3i may launch rights issue

3i is considering a rights issue in an effort to reduce its debt pile, which totalled £2.1bn in December. The move could be timely: the firm's share price has doubled in recent weeks to 334.25 pence, after bottoming out to 174.5 pence on the London Stock Exchange last month.

Reports suggest that 3i could seek to raise as much as £700m. According to a statement, the firm is "considering a range of financing options including the potential issue of new equity."

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