Home » Wolseley Confirms It's Considering Issue of New Equity
Wolseley Confirms It's Considering Issue of New Equity
March 4, 2009
Acknowledging press reports in recent months, UK-based building materials and plumbing/HVAC distributor Wolseley plc has confirmed that it has held "discussions to consider the merits of an issue of new equity."
"Any decisions will be communicated to shareholders through the appropriate channels at the appropriate time," Wolseley said in a press release.
London's Financial Times reported this week that hopes were high that Wolseley would unveil a 1.2 billion pounds rights issue (roughly US$1.5 billion).
Wolseley continues to be burdened by high debt levels. It recently announced its net debt had grown to 3 billion pounds (US$3.7 billion).