Pennon Group's shares fell over 20% following the announcement of a £550 million rights issue and a 30% cut in its dividend. The rights issue offers seven new shares for every 15 held at a 35.5% discount, aiming to fund increased investment of £3.6 billion in its water businesses. The company plans to sell Pennon Power to reduce debt and target a gearing ratio below 65%. Jefferies maintains a 'hold' rating, noting the measures strengthen finances but depend on operational execution and regulatory approval.
Pennon Group's recent share plunge is notable alongside the current Utilities sector data on Pluang. For readers following Utilities-sector US stocks, here is Pluang's market snapshot as of Oct 07, 2026 14:12 WIB: out of 22 priced stocks, 12 rose and 9 fell. Notable movers include AWR at USD 81.55 with a -0.26% change and 100% buy order activity, BEP at USD 29.47 with a +0.17% change and 86% sell order activity, and AWK at USD 128.03 with a +0.15% change and 100% buy order activity.
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