G4S raises £350m to boost balance sheet after difficult year
G4S, the UK security and outsourcing firm, raised £350m from a sale of new shares on Wednesday, strengthening a balance sheet after a lengthy period of poor business performance that included a high-profile failure to deliver on its London Olympics security contract.
It sold 141m shares, 9.99% of the existing share capital, for 247p each. That was around a 2.8% discount to the prevailing price over the morning, after the shares traded up over the day, and a premium to Tuesday’s 245.3p close.
The firm’s shares were up on
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