Waterford Wedgwood finalises rights issue

Waterford Wedgwood, the ISEQ-listed luxury goods firm, has completed a three-for-eleven rights issue, raising €38.5m to restructure its debts.The company also completed a €166m bond issue.

The rights issue was announced in November after the company reported a fiscal first half loss of €12.1m, compared to a profit of €24.5 a year earlier.

Shareholders took up 188 million shares at €0.18 a share, representing a take-up of approximately 88.1% of the total number of rights issue units offered.

Anthony O'Reilly and Peter Goulandris, whose families own 24.6% of the stock, and other directors, subscribed for their full entitlements. Davy Stockbrokers sold the remaining shares at €0.21 each, Waterford said.