10th Oct 2014 08:44
LONDON (Alliance News) - Healthcare property developer Assura Group Ltd Friday said it raised gross proceeds of GBP180.2 million in its recent oversubscribed placing and open offer, at the upper end of its expectations.
Last month, the company said it was looking to raise up to GBP180.2 million gross through a share issue, money it said it will use to fund a GBP95 million near-term pipeline of acquisitions and developments and to reduce its debt by about GBP55 million.
Assura said Friday that it issued a total of 414.3 million new shares in the placing and open offer, at a price of 43.5 pence per share.
"This share issue has been significantly oversubscribed reflecting the investment community's clear willingness to support the development of primary care infrastructure in the UK. The proceeds will allow Assura to build on its leading position in the sector and to continue to provide the NHS with the quality, fit for purpose primary care space it needs," said Chief Executive Officer Graham Roberts in the company's statement Friday.
Assura shares were trading 1.0% higher Friday morning at 44.19 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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