Housebuilder Taylor Wimpey has raised £522m in a share placing that its board says will give it scope to make new land investments as prices fall post-pandemic.
The company announced the deal after the close of the market on Wednesday and confirmed its completion this morning. It placed 355,000,000 new shares at 145p each in a transaction run by Citi and Credit Suisse to raise an initial £515m, including a £45m investment from existing investor Blackrock.
Further shares were issued to directors, employees and retail investors.
