Waterford Wedgwood equity issue faces delay

CRYSTAL and fine china maker Waterford Wedgwood said yesterday turmoil in global capital markets is likely to delay parts of its €153.7 million equity issue.

The equity issue announced last month includes an open offer to raise up to €101.7m and a placing to raise up to €78.7m, of which €52m would be additional to the open offer.

“With the continuing unprecedented turbulence in global capital markets, the placing is not likely to complete until some time after completion of the open offer,” it said in a statement.