United Utilities Raises Five-Year Investment Plan
The British water utility plans to raise 800 million pounds in equity to support a larger 11.5 billion pound infrastructure program and create 4,000 new jobs.
UNITED UTILITIES GROUP PLC will increase its five-year investment plan to £11.5B and expects annual revenue to reach £2.8B by March 2027. The utility raised its spending target from £9B to support housing, data centers, and clean energy in the United Kingdom. Investors sent the stock to a record high as the plan balances infrastructure growth with a robust balance sheet.
### Funding the Infrastructure Push United Utilities aims to fund the expanded program through an £800M equity raise, selling approximately 9% of its shares. Bookrunners indicated the shares would be priced between 1,279 pence and 1,312 pence, representing a discount of up to 2.5% to the previous evening's close. The capital injection follows a 42.2% jump in underlying profit after tax to £730M for the year ended March 31.
