United Utilities declares £1bn rights issue to fund capex

31 Jul 2003

UK multi-utility United Utilities, owner of North West Water, surprised investors this week by announcing its intention to launch a £1bn two tranche rights issue to help fund its capital expenditure programme.

The issue will be lead managed by Deutsche Bank and Dresdner Kleinwort Wasserstein, though they will not underwrite the deal.

"The timing of ...

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