Sainsbury To Up Rate Of Expansion Following Sales Boost

The UK's second-largest grocery retailer J Sainsbury has announced plans to raise GBP445mn in additional financing to accelerate expansion. The firm intends to raise GBP225mn through a new share and GBP190mn though convertible bonds. The money will be used to increase selling space by 15% by March 2011 and comes on the back of a series of impressive results, which have seen the firm gain market share and outperform maker leader

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