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Equiniti £122m rights issue

12 September 2017 08:16

Equiniti is raising £122m through a fully underwritten rights issue to fund part of the cash consideration for the £176m acquisition of the Wells Fargo Share Registration & Services business announced in July.

The company said the 3 for 14 rights issue at 190p per new share would result in the issue 64,309,150 new ordinary shares - approximately 21.4% of the existing issued share capital of Equiniti and 17.6% of the enlarged issued share capital.

At 8:16am: (LON:EQN) Equiniti Group Plc share price was -1.55p at 295.55p

Story provided by StockMarketWire.com

Related Company: EQN

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