Telegraph.co.uk, 30 Mar 2009, Ben Harrington
Retail property giant Liberty International was under severe pressure on Monday amid concerns about its recapitalisation plans.
Liberty International fell 15pc following several broker downgrades and a slew of contradictory rumours about its cash call, which triggered renewed uncertainty about its financial position.
On Monday, there were two rumours doing the rounds. The first was that the company is set to pull the trigger on a highly dilutive fund-raising that will see the company issue new shares at 250p.
The other tale in the market was that the company and its largest shareholders – which also include Westfield, Simon Property Group and the Singaporean sovereign investor GIC – are still at loggerheads about the structure of the fund-raising.
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