Speedy successfuly completes share offering
Premium Content
13 July 2009
Speedy Hire has successfully completed its new rights issue, raising around £100 million (€115 million).
On 9 July 2009 it had received acceptances for 423.6 million new shares, representing around 92.4% of the total offering. Brokers then obtained subscribers for the remaining 7.6% of the new share offering.
Speedy previously said the funds would be used to strengthen its balance sheet, provide financial flexibility in the event that markets continue to deteriorate.
The company added that the funds would give it the financial strength to consolidate and extend its market position, and allow it to emerge from the recession in a stronger position.
STAY CONNECTED
Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.
Calculate the total cost of ownership and
CO2 output of construction machinery
using the European Rental Association’s
online, free-to-use calculators.
CONNECT WITH THE TEAM
