29th Sep 2015 13:29
LONDON (Alliance News) - JZ Capital Partners Ltd, which invests in US and European microcap companies and US real estate, on Tuesday said it has raised GBP89.9 million from its placing and open offer, slightly less than it had targeted.
The company said it will issue 21.4 million shares at 419.9 pence per share under the placing and open offer, raising GBP89.9 million, or USD137.1 million, less than the USD150.0 million it was targeting. Shares in JZ were down 1.0% to 402.00 pence on Tuesday.
The funding will be used to back JZ's acquisition plans.
JZ also completed a "rollover offer" of 2016 zero dividend preference shares, which have been exchanged for 2022 ZDPs, as part of a move designed to lower its cost of capital and "rebalance" its debt maturity profile.
By Sam Unsted; [email protected]; @SamUAtAlliance
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