Centrica, the UK energy conglomerate, was able to price a £420m (€688m) share sale at the market level on Thursday even though the deal will dilute its equity by 5%.
The healthy reception for the deal, the biggest issue of a UK stock since November last year, will give equity capital markets houses hope that all is not as bad as it seems. One banker who worked on the deal said: "Lots of people in the market will take comfort from support for a quality company."
