UK companies are queuing up for fresh funds from shareholders to repair their stretched finances, with a house builder and a private equity group today expected to raise £1.25bn by issuing new shares.

Both Taylor Wimpey, the house builder, and 3i, the private equity group, had to wrestle with investors to win support for the capital raisings. 3i plans to raise about £750m and Taylor Wimpey is looking for about £500m.

The cash calls are the latest in a string of equity issues by UK companies striving to reconstruct their balance sheets and reduce excessive debt.

Financial Times