Following a recent rally in the shares, directors were considering boosting the size of the rights issue to pay off more of the company’s high-interest debt
It is understood that NTL would not have to re-launch the rights issue if it increases the size.
NTL’s US-listed shares fell 2.7% to $52.53 in early New York trade. Last week they had risen 16% since the $1 billion cash call was announced on September 26.
US regulatory clearance of the issue document could come any day, which would clear the way for the final pricing of the shares.
The fund raising will complete a crucial second phase of the company’s balance sheet restructuring.
NTL’s debt-for-equity swap has erased about $11 billion in bond debt from its books, but the group was still left with $6.5 billion in loans and hefty interest payments when it emerged from bankruptcy.
