8th Jul 2015 07:42
LONDON (Alliance News) - Empiric Student Property PLC on Wednesday said it is planning to raise GBP50 million via an equity issue in order to back its acquisition plans.
The student accommodation investor said it will issue shares at 105.75 pence per share and is targeting a fundraising of GBP50 million, which would mean it would issue 47.3 million shares.
Empiric shares were trading flat at 107.5 pence on Wednesday morning.
Empiric said it intends to use the proceeds to back its acquisition plans and plans to have committed the net proceeds from the issue by the end of the third quarter.
By Sam Unsted; [email protected]; @SamUAtAlliance
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