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Imperial Tobacco rights issue gets 97.2% take up
By Mark Roberts
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Posted 12 June 2008 @ 10:26 am GMT
Imperial Tobacco said on Thursday that its £4.9 billion rights issue had been taken up by 97.2 per cent of its shareholders. The last 9.5 million new shares are to be placed with the underwriters of the rights issue.
A worker opens a pack of Imperial Tobacco cigarettes in a handout photo. REUTERS/Handout
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Imperial sees further earnings growth in first quarterThe rights issue was launched on 20 May in order to pay for the January takeover of Franco-Spanish tobacco firm Altadis.
The underwriters of the rights issue are Hoare Govett, Morgan Stanley, Citi and Lehman Brothers. The rights issue was the third biggest in Britain after Royal Bank of Scotland's recent £12 billion rights issue and BT's £5.9 billion rights issue in 2001.
This article is copyrighted by the International Business Times.
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