Contractors says remaining shares will be acquired by underwriters if buyers are not found at issue price

Balfour Beatty has sold about 97% of shares issued in a recent rights issue.

The contractor carried out the £353m rights issue to fund the aquisition of Parsons Brinckerhoff.

The construction firm said that if it could not find buyers for the remaining 6,033,170 new shares at a level equal to the issue price, they would be acquired by the underwriters.