FCC Shares Soar on Spanish Builder's $768 Million Share Sale

  • Stock sale backed by Carlos Slim, world's third-richest man
  • FCC is raising money to reduce debt, invest in business

Workers prepare to lift a beam during construction work at a site operated by Fomento de Construcciones & Contratas SA (FCC) in Madrid.

Photographer: Angel Navarrete/Bloomberg

Fomento de Construcciones y Contratas SA jumped as much as 24 percent in Madrid trading, its biggest gain since at least 1992, after the Spanish builder backed by Carlos Slim announced plans to raise 709.5 million euros ($768 million) with a share sale to cut debt.

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