Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Building materials manufacturers Marshalls are the latest to ask shareholders for more money via a rights issue.
They want to raise £34m and the deal is fully underwritten. Existing shareholders will receive a two-for-five offer and the new shares will be priced at 65p each.
Marshalls’ first quarter sales were down to £109m from £135m for the same period last year with underlying daily sales on a like-for-like basis down 19%.
