The board of Pennon Group plc (PNN.L) announced a proposed capital raise of approximately 490 million pounds by way of a fully underwritten rights issue of 185,928,002 new ordinary shares at 264 pence per new ordinary share on the basis of 13 new ordinary shares for every 20 existing ordinary shares.
The Group said the purpose of the rights issue is to enable Pennon, as part of a comprehensive financing package, to deliver the step change in investment required through the K8 period to March 2030, whilst ensuring appropriate and sustainable gearing is maintained throughout.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.