Taylor Wimpey Seeks New Institutional Investors, Telegraph Says

By Abigail Moses

Aug. 31 (Bloomberg) -- Taylor Wimpey Plc will this week launch a campaign among institutional investors to broaden its shareholder base in order to raise capital, the Sunday Telegraphreported, without saying where it got the information.

The London-based homebuilder, which last week reported a 1.5 billion-pound ($2.73 billion) pretax loss and in July failed to raise 500 million pounds, has lined up meetings with new institutions to persuade them to invest, the newspaper said. Taylor Wimpey was told by current investors it needed new shareholders to complete potential fundraising, the newspaper reported.

To contact the reporter on this story: Abigail Moses in London Amoses5@bloomberg.net