Linde plans share sale to fund buy

German industrial gas firm Linde plans to raise up to €1.5bn from selling new shares to help fund its purchase of Lincare Holdings, which will put it ahead of Air Liquide in the medical gas market.

Linde has agreed to pay $4.6bn for the Florida-based provider of oxygen and respiratory therapy services to patients in the home, boosting its position in a market benefiting from cost cuts by hospitals and an ageing population. Linde shares fell 1.8 per cent following news of the fundraising measures.