SIG the latest to turn to cash raising move

By Dave Rogers2020-05-29T11:14:00

Source: Shutterstock

Firm slumps to £112m loss in 2019

SIG has become the latest firm in the sector to turn to a cash raising plan with the embattled materials company announcing it plans to raise £150m in new equity.

The firm, which today said it had slumped to a £112m pre-tax loss in 2019, said New York private equity firm Clayton, Dubilier & Rice had agreed to pump in up to £85m on condition the remaining £65m was raised elsewhere giving it a 25% stake in the business.

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