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Costain announces proposed £75m capital raise

27 February 2014 | Corporate Brokerships

Costain Group plc (Ticker: COST LN) today announced a proposed £75.1m capital raising by way of a Firm Placing, Placing and Open Offer.

Liberum acted as Joint Global Co-ordinator, Joint Bookrunner and Joint Broker to the Company in respect of the transaction, following its appointment as Corporate Broker to the Company in November 2013.

Costain is one of the leading tier one engineering solutions providers to the UK infrastructure, energy and water markets.

The capital raise will provide Costain with the opportunity to accelerate its growth in the medium and long-term in rapidly evolving markets in which it is expected that over £400 billion will be spent in the next ten years.

Costain Group PLC is listed on the LSE Main Market with a current market capitalisation of c£220m.

Company website: Costain Group plc 

Liberum Investment Banking: Steve PearceJames Staveley, Steve Tredget and Josh Hughes on +44 (0) 20 3100 2222

Research: Will Shirley

Sales: Julian Collett

Corporate access: Regan Connor