Rolls ends 'thrilling' rights issue after vaccine boost

By Sam Kerr
12 Nov 2020

Rolls-Royce, the UK aerospace company, completed its rights issue on Thursday, with the cash call proving to be a resounding success. The deal benefited from a late boost on Monday, when US drug company Pfizer said it had enjoyed successful late-stage trials for a Covid-19 vaccine, giving investors hope that Rolls-Royce engines would be powering more planes into the sky sooner than expected.

The company announced on Thursday that 94.17% of shareholders had taken up their rights during the subscription period. It will issue just over 6bn new shares to its shareholders at the offer price of 32p a share, raising £1.92bn.

Shareholders were given the chance to take 10 new ...

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