16th Feb 2016 10:17
LONDON (Alliance News) - Shares in Circle Property PLC rose as it started trading on AIM on Tuesday, having raised around GBP1.2 million from its listing.
The regional property investment company, chaired by former Land Securities Group PLC chief Ian Henderson, issued 791,441 shares at a price of 149 pence per share. Its market capitalisation upon admission was around GBP42.0 million.
Shares in the company were up to 154.00p on Tuesday morning.
Circle owns a property portfolio of 16 assets, covering freehold and leasehold sites, which has been valued at around GBP73.9 million. It plans to build a portfolio of prime regional office assets and is targeting an annual total return of 12% on acquisition.
By Sam Unsted; [email protected]; @SamUAtAlliance
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