Pearson Places Shares To Fund Further Net Investment

Media group Pearson announced today that it has placed a number of shares to raise money for further investment in internet projects. It confirmed that 11,500,000 ordinary shares were placed at £22 per share to raise approximately £250,000,000.

The funds will be invested over the course of the next two years in a number of projects including the development of ft.com as a major global business portal. The group also plans to build a network of websites based around European and US business and financial news, create an online education network linking students, parents and teachers, and pursue net opportunities in Spanish and Portuguese markets.

Marjorie Scardino, chief executive of Pearson said: “Content and brands count more than ever in this world. It’s not whether we are in “old” or “new” media, or “online” or “offline” that matters; it’s how we use our content across all channels that will really count. With this placing, we will step up our investment in the internet projects that enable us to transform the scale and scope of out businesses faster and more effectively.”

Pearson: 020 7411 2000