25th May 2018 08:46
LONDON (Alliance News) - Capita PLC on Friday said it will raise GBP681.5 million through a rights issue after getting about 97% of acceptances.
The company said that its joint global co-ordinators Barclays Bank PLC and Banco Santander SA agreed to acquire or find buyers for the remaining 27.5 million placing shares. Amounts received in excess of the rights issue price will be paid to shareholders whose rights lapsed.
At the end of April, the FTSE 250-listed outsourcing firm proposed to raise GBP701.0 million to pay for its plan to simplify and strengthen its business.
Proceeds from the issue will go towards supporting the delivery of the group's new strategy, it said, investing further in the business, and reducing indebtedness.
The rights issue involves three new shares for each two already held. The fully underwritten issue of 1.00 billion shares was at the deeply discounted price of 70.00 pence each.
Shares in Capita were trading 0.6% higher at 137.21p each early on Friday.
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