December 20, 2018 / 10:33 AM / 6 months ago

Kier bookrunners buy into remainder of heavily discounted share sale

Dec 20 (Reuters) - Kier Group said it had been informed by the joint bookrunners of its rights offer that it was unlikely any investors would by Friday buy into the share sale even at the heavily discounted 409 pence per share price tag.

As a result, the joint bookrunners would subscribe for 28.1 million new shares of the remaining 40.2 million new shares not validly taken up, with institutional investor sub-underwriters buying 12.08 million new shares, Kier said.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Bernard Orr

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