Galliford raises £144m but falls short with rights issue

Aberdeen western peripheral route

Galliford Try has confirmed it has raised £144.2m from a 91.5% take-up of its discounted rights issue aimed to over-run costs on its Aberdeen bypass contract.

The housebuilder and construction group unveiled plans for a one-for-three rights issue of up to 27.74m new ordinary shares priced at 568p apiece in March and achieved acceptances of 25.39m of the total – its shares on the FTSE 250 closed at 885.5p at the end of last week.

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