7th Apr 2020 10:02
(Alliance News) - Assura PLC on Tuesday said it has raised GBP185 million through the placing of 240.2 million shares at 77 pence each.
Shares in the primary care property investor and developer were trading 7.4% lower at 77.30p each on Tuesday morning. The placing price represents a discount of 7.8% to its closing price of 83.5p on Monday.
On Monday, FTSE 250-listed Assura said it intended to raise around GBP180 million through a placing in order to fund its development and acquisitions pipeline worth GBP165 million.
Within the GBP165 million pipeline, GBP85 million are on-site development opportunities due to be completed by December, GBP67 million are acquisition opportunities consisting of individual properties, all due to be completed within the next three-to-six months.The final GBP17 million are asset enhancement capital projects aimed at growing rental income.
BlackRock Inc subscribed for 26.2 million placing shares for a total of GBP20.1 million.
Assura said the placing shares represent around 10% of its total shares in issue before the placing. Following admission, Assura will have 2.7 billion shares in issue.
By Ife Taiwo; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Assura