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Cobham announces £500m rights issue and profit warning

Connectivity BusinessbyConnectivity Business
April 26, 2016
in Uncategorized
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Cobham’s shares closed down more than 17% after the UK defence and space technology firm launched a £500m (US$726m) rights issue and said Q1 profits had plunged 70% to £15m (US$22m). Without the equity issue the group warned it risked breaching covenants tied to debt incurred from buying Aeroflex Holding, the US-based radio-frequency semiconductor specialist, for US$1.46bn in 2014. Cobham’s (LSE:COB) […]

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