UK factories continue to cut jobs; Rolls-Royce rights issue begins – Business Live | Business

Rolls-Royce shares continue to fall this week due to weekend speculation over the issue of heavily discounted rights, with management reportedly engaged in lengthy negotiations with several sovereign wealth funds. Last weekend, there were speculations that the Kuwait Investment Office would also freeze a stake, which would have put the UK government in a somewhat tricky situation, with some kind of veto for any foreign shareholder.

Given the sharp decline in revenue that Rolls-Royce has experienced over the past few months, it clearly needs money to raise its balance sheet, and this is likely to continue for some time to come. The continued postponement, however, did not help, and last night the news that it had stopped negotiations with the KIO and Singapore’s Sovereign Wealth Fund closed another avenue for business. The failure of the negotiations is said to have been caused by the opposition of the existing shareholders, which is sufficient, but then these existing partners will have to come up with alternative ways or face the breakdown of the business. The deal will be put to a vote on the 27thTh In October, shareholders will have the opportunity to accommodate or close.

Today’s announcement is the introduction of the Rolls Royce $ 31 billion 41% discount on $ 3 billion bond issue and 3 rights issue b2 billion 10 So it will be a long delay and the same reconsideration which was reluctant to dilute their shares with funds coming from abroad will be well received by the shareholders.

See also  Priority list for Pfizer vaccine

You May Also Like

About the Author: Cory Weinberg

"Alcohol evangelist. Devoted twitter guru. Lifelong coffee expert. Music nerd."

Leave a Reply

Your email address will not be published. Required fields are marked *