SIG plans equity raise after results, bleak outlook
Reuters
Published May 29, 2020 08:01
(Reuters) - Building materials supplier SIG Plc (L:SHI) plans to raise 150 million pounds ($185.12 million) in new equity with U.S. buyout firm Clayton, Dubilier & Rice (CD&R), it said on Friday, as it pointed to a bleak outlook after "disappointing" results.
The company, which scrapped its dividend and envisaged a 500 million pounds hit to 2020 revenues, said the share sale is expected to result in a 25% shareholding by CD&R.
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Written By: Reuters
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