21st Oct 2013 15:31
LONDON (Alliance News) - Japan Residential Investment Company Limited Monday said it intends to raise GBP18.9 million through an issuance of new shares to new and existing shareholders.
The closed-ended investment company with investments in residential property in Japan said the money will be raised through a placing via an accelerated bookbuild of new shares at 63 pence each.
The proceeds of the fundraising will be used to invest in Japanese residential property identified by KK Halifax Asset Management, the Fund's investment adviser.
Liberum Capital Limited is the company's sole broker and placing agent on the placing, with new and existing shareholders already committed to buying GBP15 million of the new shares.
The company's shares were Monday quoted down 0.4% at 65.00 pence.
By Samuel Agini; [email protected]; @samuelagini
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