23rd Jul 2015 07:49
LONDON (Alliance News) - Empiric Student Property PLC on Thursday said it has raised GBP75 million via a placement, US private placement and subscription after the issue was oversubcribed.
Empiric Student said it will issue 70.9 million shares at 105.75 pence per share, the maximum volume the company had said it would issue when announcing the transaction initially. Of the shares, 58.7 million are being issued under the placing, with the remaining 12.2 million to be issued under the US private placement and subscription.
Empiric Student shares were up 1.1% to 107.45 pence on Thursday.
The proceeds will be used to back the company's investment pipeline.
By Sam Unsted; [email protected]; @SamUAtAlliance
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