1st Jul 2016 09:52
LONDON (Alliance News) - GCP Student Living PLC on Friday said it is investigating the possibility of moving to the London Stock Exchange's main market, noting it believes its shares would "benefit over time" from the move.
The student accommodation real estate investment company said its estimated asset base has grown to GBP420.3 million at March 31, from GBP93.0 million at its initial public offering in May 2013, but has since completed an oversubscribed placing to raise gross proceeds of GBP60.0 million.
"As the company grows, the directors believe that the company would benefit over time from a migration to listing on the official list of the UK listing authority such that its shares may become eligible for inclusion in applicable indices," the company said in a statement.
"The directors intend to further investigate the possibility of a migration with its advisers over the next few months and will provide an update in due course," GCP Student added.
Shares in GCP Student were up 0.3% at 131.08 pence on Friday.
By Hannah Boland; [email protected]; @Hannaheboland
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