South West Water owner launches £490m rights issue
South West Water owner Pennon Group is to raise £490m as part of its investment plans for the next period after accepting Ofwat's final determinations.
Investment in the five years to 2030 will be £3.2bn, a "significant uplift" on the £1.9bn spent in the previous period.
Pennon said the fully underwritten rights issue "brings with it clarity and visibility on the overall financing package required to deliver our capital investment plan out to March 2030".
Water companies across the country have been under pressure for a pe... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
