LONDON (Reuters) - British engineer Cobham is being investigated by the country’s Financial Conduct Authority in connection with its handling of inside information ahead of a trading update and rights issue announcement in April last year, the company said.
The aerospace and defence company launched a 500 million pound emergency rights issue on April 26 to shore up its balance sheet after a costly move to gain more commercial customers led to a profit warning.
“The company is cooperating fully with the FCA and will update the market on the outcome in due course,” it said in a statement on Monday.
It also said a proposed 500 million pounds rights issue it announced on March 2 remained on track.
Shares of the company were down 2.6 percent by 1101 GMT on Monday.
Reporting by Justin George Varghese; editing by Susan Thomas