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Dash for emergency cash provokes fund industry backlash
April 21, 2020 11:12 AM EDTBy Simon Jessop, Sinead Cruise and Abhinav Ramnarayan
LONDON (Reuters) - As companies pull the emergency cash cord to help them through the coronavirus crisis, shareholders have been split by an easing of the rules to make it easier for them to turn to investors with the deepest pockets.
In pursing this path, cash-strapped publicly-listed companies and institutional fund managers risk alienating legions of loyal retail investors, whose holdings are diluted.
A change to British market regulations last month enabled firms to raise equity equivalent to up to 20% of their share capital in quick-fire share sales.
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