Cash box critics need to recognise reality

27 Jan 2009

Allowing companies to bend the rules in order to quickly raise relatively small amounts of equity capital should be recognised for what it is: a sensible solution to a disjointed market.

UK businesses outside of the banking sector have raised £3.78bn of equity capital in follow-on offers in the last three months, highlighting the role that equity markets play in the refinancing of companies.

That is surely a good thing. But some of the deals, such as last week’s ...

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