Financial Times FT.com

Centrica raises £2.2bn with rights issue

By Rebecca Bream and Kate Burgess in London

Published: October 31 2008 09:06 | Last updated: October 31 2008 19:27

Centrica, the owner of British Gas, raised £2.2bn through an issue of new shares to help fund its planned acquisition of a 25 per cent stake in nuclear group British Energy.

The market was surprised a large fundraising had been launched in such choppy markets, but bankers working on the underwritten placing said Centrica’s largest shareholders had been supportive of the move.

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