Scottish & Southern to place 40 million shares

LONDON (Reuters) - Scottish & Southern Energy (SSE.L) is to place about 40 million shares to boost its balance sheet, representing up to 5 percent of its share capital, it said on Wednesday.

The company said in a statement that the proceeds would be used to strengthen the balance sheet, which in turn would boost acquisition options.

The company also said it was looking at small and medium sized assets as well as major projects, and it is finalising a couple of wind farm deals.

The company also confirmed that it was trading in line with management expectations, and said it was on course to deliver a full year dividend up 9.1 percent.

(Reporting by Ben Deighton; Editing by Matt Scuffham)