RWS raises £185m to fund Moravia takeover

LSE PA 230 150
By Aidan Gregory
18 Oct 2017

Shares in RWS Holdings, the UK translation company, closed 14.6% lower on Wednesday after it raised £185m, 19% of its share capital, through a daytime capital increase to partly finance its $320m acquisition of Moravia, the Czech provider of technology-enabled translation and localisation services.

Bookrunners Numis Securities and Barclays launched the deal early on Wednesday morning after an extensive wall-crossing exercise that gave them indications of demand in excess of the deal size.

It took just over an hour to cover the deal and the books closed at around 9am in ...

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