Wednesday 23 September 2009

Housebuilders look to raise cash

Two of the UK's largest housebuilders have announced plans to bolster their finances by raising cash through selling more shares. Barratt Developments wants to raise £720.5m through a rights issue, while Redrow is aiming for £150m. Click here for more...

I took note of this sentence, 'Mr Clare added that the cash from the rights issue would also be used to develop a number of existing sites and to buy land if opportunities arose'.