Tesco-owned garden centre chain Dobbies has planned to raise £150 million by issuing new shares.
Dobbies said it intends to raise about £150 million by issuing 12.5 million new ordinary shares at a rate of £12 per share.
Dobbies chief executive James Barnes said: “This year’s financial results are distorted for exceptional reasons. That is why standard changes have to be brought in.”
Grocery giant Tesco acquired Dobbies last year and owns 65 per cent of the retailer.
