Capita launches £701m rights issue

By David Parsley2018-04-23T06:54:00

Troubled outsourcing group Capita has launched a heavily discounted £701m rights issue in an effort to repair its balance sheet.

The company is issuing 1m new shares at 70p, a 34% discount. The three-for-two rights issue, which will raise £662m after fees, will be used to reduce its £1.2bn net debt, fund the company’s overhaul and invest in new technology.

This is premium content

You must be logged in to view premium stories.

Subscribe for full access

Take out a print and online or online only subscription and you will get immediate access to:

Breaking industry news as it happens
Expert analysis and comment from industry leaders
Unlimited access to all stories, including premium content
Full access to all our online archive

To get access to premium content subscribe today

Alternatively REGISTER for a free trial to access up to 4 articles and sign up for email alerts

If you are already a registered user or a subscriber you can SIGN IN now