Cash-hungry U.K. public companies will be able to raise funds via a rights issue more quickly in the future, following a corporate governance rule change.
Influential shareholder group the Association of British Insurers has changed its good governance guidelines on rights issues. Previously, it said companies should call an extraordinary general meeting of shareholders to approve the issuance of new shares worth more than a third of its existing capital. Now it has raised the hurdle to two-thirds.
