Provident's rights offer ends fully subscribed

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By Aidan Gregory
10 Apr 2018

Provident Financial, the embattled UK lender, has raised £344m though a rights issue, to pay regulatory fines and restore its balance sheet to health.

The 17 for 24 rights issue, was underwritten by Barclays and JP Morgan.

The investor take up rate was 96.3% with Provident’s two main shareholders, Invesco and Woodford Investment Management, subscribing pro rata to their stakes in the company at the launch of the deal.

The 315p offer price ...

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