Taylor Wimpey, the UK housebuilder, is set to reveal plans on Monday to bolster its finances by up to £500m through an emergency share issue – the first company from the battered housebuilding sector to seek fresh capital. Taylor Wimpey is expected to announce it is in talks with key shareholders about a placing of new shares. The two-step process will follow a similar model to that of Barclays bank, which announced a £4.5bn capital raising  last week. About 20 of Taylor Wimpey’s top shareholders, including Standard Life, Barclays and Alliance Bernstein, have been approached to participate in the fundraising. Details were still being finalised Sunday, and none of the potential investors had committed itself to any deal.

This entry was posted by Gwen Robinson on Monday, June 30th, 2008 at 5:41 and is filed under Capital markets. Tagged with Taylor Wimpey. Edit this entry.