
Pennon Group PLC (LSE:PNN, OTC:PEGRY) £550 million rights issue and dividend cut underpin the water group's strategic overhaul, with Citi and Deutsche Bank both rating the shares 'buy'. The fully unde

Pennon Group PLC (LSE:PNN, OTC:PEGRY) shares fell as much as 20.4% to around 360p after the water utility launched a £550 million rights issue and cut its dividend, with Jefferies describing the measu

Pennon Group PLC (LSE:PNN, OTC:PEGRY), the owner of South West Water, faces a crunch balance sheet decision at its strategic update in September, according to two City brokers. RBC Capital Markets cut