AN executive director of Kingspan engineering and insulation group, Mr Eoin McCarthy, has raised almost £1.8 million following a recent sale of Kingspan shares. Mr McCarthy sold 340,000 shares last Friday at 525p each, reducing his stake in the company to 750,000 shares or 2.69 per cent of the issued shares.

Kingspan is in the middle of a £20 million rights issue to part-fund the acquisition of Ward (UK). The document detailing the terms of the acquisition confirms that the two biggest share-holders in Kingspan, brothers Gene and Brendan Murtagh, are not taking up their rights to new shares.