IFLR1000

Provident Financial £331 million rights issue

22/3/2018
Share offer, Rights issue
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£ 331 million

$ 469 million

Announced

22/3/2018

Overview:

  • Provident Financial has undertaken a £331 million rights issue.
  • The company has also taken out a £85 million bridge facility.
  • Proceeds will increase Provident's capital by more than a third.
  • Invesco Asset Management and Woodford Investment Management have backed the issue.

Katrin Kostadinova - Data analyst 

Jurisdiction:

United Kingdom

Deal types:

Share offer
Rights issue

Practice area:

Capital markets : Equity

Governing law:

England and Wales

Industry sector:

Financial services

Firm:
Clifford Chance

Party: Provident Financial (Issuer)

Lawyers: Emma Folds, Peter Dahlen, Simon Thomas

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