Construction firm Kier's shareholders have voted overwhelmingly to rubber-stamp its planned £241m equity raise.

Kier has worked on a number of major schemes in the county, including Gloucester's Transport Hub and the redevelopment of Shire Hall.

A general meeting of the firm yesterday (16th June) saw 99.86 per cent of votes back the move, which will see the shares begin trading tomorrow (18th June), as reported by Building.

The firm announced its plan to raise the cash last month, in a bid to repair its balance sheet, which saw its net debt standing at £436m for the six months to December 2020.

Last month, the firm completed the sale of its housebuilding business, Kier Living, for £110m to a private equity buyer. The company has since been renamed Tilia Homes.