Barratt gets 92.3% rights issue take-up

4th Nov 2009 10:54

Barratt Developments said it received valid acceptances in respect of 92.3% for its recently announced £720m rights issue.The heavily indebted housing constructor confirmed in September that it plans to raise extra cash through an underwritten placing and a 1.3 for 1 rights issue as it posted big losses last year.Forward sales at 30 June 2009 were £464.3m (2008: £697.6m) representing 3,328 plots (2008: 4,586 plots). As at 13 September 2009 forward sales had increased to £733.4m.