Speedy Hire cash call at big discount - Business - Evening Standard
       

Speedy Hire cash call at big discount

Tool hire company Speedy Hire today launched a massively discounted rights issue to raise £100 million to shore up its fragile finances.

The firm, which has been blighted by crippling debts and a collapse in business during the building slump, is offering investors nine new shares for every one they own at a price of 23p each.

The Shares were trading at 176p last night and fell 51⁄4p to 1701⁄4p today.

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