Mark Whitehead 03 December 2018

Kier sees shares plummet by 33% after £264m rights issue

Construction giant Kier is the latest outsourcing company to raise fears after its share price bombed 33% on Friday.

It followed the announcement by the company - which lists local government among its major sectors - of plans to raise £264m to reduce its debt.

Chief executive, Haydn Mursell, said the cash injection had 'completely de-risked' the firm.

He told Building magazine that suppliers should 'look at us and see that we’re now a much stronger business. We’ve removed the shadow created by our debt position.'

The latest uncertainty follows the collapse of construction company Carillion early this year with debts of £1.5bn, leaving many local authorities to find other providers.

Last month the Government ordered outsourcing companies to draw up 'living wills' setting out how services would continue to be provided if they collapsed amid concerns over the weakness of several major firms including Capita and Interserve.

The firm’s lenders include Santander which is understood to have lost £200m on Carillion following its collapse.

SIGN UP
For your free daily news bulletin
Highways jobs

School Crossing Patrol Officer

Essex County Council
Up to £13.4600 per hour
School Crossing Patrol Officer Chelmsford, Essex Part-Time, Temporary 7.5 hours per week, term-time only Up to 6 Months £13.46 PAYE / £17.24 Umbrella England, Essex, Chelmsford
Recuriter: Essex County Council

Deputy Team Manager - Older Adults Mental Health

Essex County Council
£48205 - £57988 per annum + Flexible Working, Hybrid Working
Interviews will be held in person at Rowan House, Colchester on 6th May 2026.The TeamWe are a committed team working with adults aged 65 years plus a England, Essex, Colchester
Recuriter: Essex County Council

Adults Social Worker - Learning Disability & Autism

Essex County Council
£38487 - £51834 per annum + Flexible Working, Hybrid Working
This is a 12 month fixed term contract or secondment opportunity.We're an adult social care service that wants to see citizens of Essex have as much England, Essex, Chelmsford
Recuriter: Essex County Council

Caseworker (Pharmacy Liasion)

Middlesbrough Council
£31,022 - £32,597
We have an exciting role on offer within our Public Health service as a Caseworker (Pharmacy Liason). Middlesbrough, North Yorkshire
Recuriter: Middlesbrough Council

Carers and Co-production Practice Development Lead

Middlesbrough Council
£41,771 - £44,075
We have an exciting role on offer within our Quality and Practice team as a Carers and Co-production Practice Development Lead. Middlesbrough, North Yorkshire
Recuriter: Middlesbrough Council
Linkedin Banner