Pressure for Premier Foods listing

Premier Foods’ chief executive-elect Mike Clake is under pressure to consider a £300m rights issue to repair the UK’s largest food producer’s balance sheet, according to a weekend report. The Observer reported a big investor saying a rights issue should be under consideration as Premier is paying millions in interest despite recent disposals. According to the report at least one of Premier’s three big investors – Paulson & Co, Warburg Pincus and Franklin Templeton, which together account for 40 per cent of the shares – would back a move to raise cash. Clarke is set to take the reins from chief executive Robert Schofield in September.