11th Nov 2021 11:59
Assura PLC - Warrington-based primary care property investor and developer - Plans to raise GBP190 million from placing of up to 267.6 million new shares, with the cash to be put toward Assura's pipeline of property acquisitions and reducing its loan-to-value ratio. Pricing will be set in an accelerated bookbuild run by Barclays Bank PLC, JP Morgan Securities PLC and Stifel Nicolaus Europe Ltd. A retail offer worth up to the sterling equivalent of EUR8 million will be conducted via PrimaryBid at the same price as the placing. Assura says it has a short-term pipeline of acquisition opportunities worth GBP193 million. It also wants to trim its LTV ratio to 36% from 39% currently.
Assura also reports results for the half year that ended September 30. EPRA earnings rise by 7% to GBP40.9 million. EPRA net tangible assets rise 2.1% to 58.4 pence per share from 57.2p on March 31. The portfolio value increases by 5.8% to GBP2.60 billion from GBP2.45 billion back in March. The portfolio net initial yield stays steady at 4.56%. Assura declares a quarterly dividend 0.74p, up 4.2% from 0.71p in March.
Current stock price: 68.85, down 5.8% on Thursday
Year-to-date change: down 10%
By Tom Waite; [email protected]
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