Greene King rights issue raises pub jobs hope

24/04/2009 15:17:06

Greene King is planning to raise £207.5 million from a rights issue as it bids to expand its pub and brewing empire, it has been reported.

After making what will be the first such move by a large UK pub firm, it could now safeguard pub roles at struggling ale houses around the UK while creating new local jobs.

Investors are to be offered the opportunity to buy three new shares for every five they hold at a price of 270 pence each

Rooney Anand, Greene King's chief executive, said the company's major shareholders supported the fund-raising move.

The firm has expressed a desire to "cherry pick" the best available sites based upon market value and potential profitability.

Earlier this year, JD Wetherspoons offered patrons the opportunity to sample Greene King's IPA at 99 pence per pint on draught.

Other popular pints produced by the firm – which has around 2,500 pubs across the UK - include Abbot Ale, Ruddles County and Old Speckled Hen.

Pub and bar jobs nationwide

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