Before xmas, Kier Group held a rights issue which was something of a flop, with only about a third of the shares being taken up. The left the underwriters and sub-underwriters on the hook, and there was a subsequent “rump placing” that saw them dump a …Read more…
Kier Group ownership changes
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Interserve / Kier Group short selling update
Update on my update: I’m reliably informed that other data sources suggest the actual total short position in Kier Group is more than double that in the FCA list. Interserve 50% higher than the totals on the FCA list.
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Interserve / Kier Group short selling etc
Following on from Kier Group (and Carillion, of course) it looks like Interserve is facing some serious financial pressure. According to the FT there are “rescue” talks underway that involve a debt for equity swap that would largely wipe out existing s…Read more…
Kier Group in trouble
Kier Group’s shares took a nosedive on Friday afternoon, after the company announced a £250m rights issue intended to pay down its debt. The background to this, according to Kier Group, is a mixture of lenders pulling back from the construction sector,…Read more…