Wolseley will look to pay down some of its large debt burden after investors bought most of the new shares the group issued in a £1bn rights issue.
Some 98% of new ordinary shares issued were bought, Wolseley said.
The group has been struggling under a £2.5bn debt burden and has had to cut thousands of staff and close hundreds of branches, with its US business the worst affected because of the dramatic slowdown in housebuilding.
