April 23, 2018 / 6:12 AM / a month ago

UK's Capita in 3x2 rights issue, reports 513 mln stg pretax loss

April 23 (Reuters) - British IT-led outsourcer Capita announced a three-for-two rights issue on Monday and a strategic plan to return it to growth, as well as a reported full-year pretax loss of 513 million pounds ($719 million).

Capita has issued a series of profit warnings which have lopped off two thirds of its around 1.0 billion pound market value in the last year.

The rights issue, announced four days ahead of expectations, will raise 662 million pounds partly to pay off about 1.0 billion in net debt and partly to reinvent the company as a leaner, simpler and more coherent business services group. ($1 = 0.7135 pounds) (Reporting by Elisabeth O’Leary, Editing by Paul Sandle)

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