Rolls-Royce mulls financing plan after ruling out Kuwait investment

Rolls-Royce mulls financing plan after ruling out Kuwait investment

Rolls-Royce Holdings is poised to unveil a plan to seek financing from shareholders after ending talks to bring in sovereign wealth funds as co-investors, according to a person familiar with the matter.

The British maker of aircraft engines said earlier this month it intends to raise as much as £2.5 billion ($3.2bn) through a rights issue or other forms of equity, and also issue more debt. The company now plans to update the market Thursday on its financing plans, the person said.

The plane is part of a Rolls-Royce initiative called ACCEL and is a key part of Rolls-Royce's strategy to champion electrification.

Shareholders of the UK engine-maker opposed a plan to raise funds from Singapore's GIC