16th Dec 2020 14:24
Grit Real Estate Income Group Ltd - pan-African property investor and manager - Raises GBP7.2 million from placing of 15.0 million shares at GBP0.481. Grit had announced the placing plan on Tuesday, and Grit had said M&G Investment Management Ltd had committed to offer to buy all of the placing shares that other investors didn't. Grit didn't say on Wednesday how much of the placing, if any, was taken up by M&G. The amount raised was in line with its target of USD10 million. "We are pleased with the response from high calibre investors to our placing, underpinned by the support of our shareholder M&G," says Chief Executive Officer Bronwyn Corbett, adding: "Our improved financial strength positions us well for the recovery in economies."
Current stock price: 47.52 pence
By Tom Waite; [email protected]
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