10.07.2009

Speedy completes rights issue

Speedy Hire, the UK’s largest equipment rental company has reported that it has had a 92.4 percent uptake of the new shares that were offered to its existing shareholders. The offer ended yesterday. The new shares will be available to trade from today.

The company’s underwriters for the issue, expect to be able to place the balance of the shares within the terms of the rights issue.

Speedy launched the nine for one rights issue in May to raise £100 million in order to strengthen its balance sheet. Click here to see original report