Rexam dives on rights issue

Shares in the world&rsquo;s largest drinks can maker, Rexam, plunged yesterday after confirming it was considering a rights issue. Rexam shares dived by 12 per cent to 284.5p after the group said a cash call was an option to avoid a downgrade in its credit rating to junk status. The group, which has net debts of &pound;2.7bn is expected to announce a &pound;350m cash call along with its half year results which are due out on Thursday. <br />