United Utilities Group PLC’s £800 Million Raise Puts Its £11.5 Billion Water Plan in Focus
United Utilities raised £800 million by issuing 60.98 million new shares at 1,312 pence each, with trading set to begin May 5. The funds will support an expanded £11.5 billion investment programme through 2030. Shares fell 2.8% Friday after the fundraising, despite an 11% surge the previous day. The company reported annual underlying revenue of £2.58 billion and profit after tax of £730 million.