Fund managers and bankers have welcomed a move from UK standard-setters to relax the rules around companies raising fresh cash from their shareholders, to make it easier to shore up their finances against the fallout from the Covid-19 epidemic.

Under current rules, when UK listed companies want to issue new shares to raise capital, existing shareholders have first refusal on a maximum 10% of the new issuance, depending on the reason for it, in proportion to what they already hold.