B2B group Informa raises £242m from share issue

Informa has succeeded in its attempt to raise an extra £242m in cash from shareholders.

The business-to-business group launched the share rights issue earlier this month, saying it needed the cash to cut its debt levels and give it more “headroom” to make sure it stayed within its lending agreements.

The Lloyd’s List publisher was offering shareholders an extra two shares at a discounted price of 150p each for every five shares they already own.

In a statement issued to the City this morning, Informa confirmed that 96.8 per cent of shareholders had agreed to buy the extra shares.

The remaining 3.2 per cent will be bought by two investment banks, Merrill Lynch and RBS Hoare Govett, who between them agreed to act as underwriters for the rights issue.

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