LSE launches Russell funding rights issue at tight discount
London Stock Exchange Group launched a £938m rights issue last Friday that will fund its previously announced acquisition of index services firm Frank Russell Company. The deal came alongside the LSE's results, which showed surging profits on the back of record IPO volumes.
Shareholders will be offered three new shares for every
11 they hold, at £12.95 each. That is a 30.1% discount on the theoretical
ex-rights price.
Already a subscriber? Login
Further Reading
-
SRI / Green Bonds
UK’s green Budget ‘underwhelming’ as gaps, contradictions appear
-
IPOs
Equity market cheers London listing review
-
ABBs/Block Trades
Shareholder sells Melexis shares to increase freefloat
-
Follow-Ons/Rights Issues
EDPR sells cheap to price €1.5bn 're-IPO' amid rising bond yields inflation fears