27th Nov 2013 11:21
LONDON (Alliance News) - Picton Property Income Ltd Wednesday said it is proposing to issue 22.2 million more shares, about 6.2% of its existing share capital, in a placing that will raise funds for capital projects within the existing portfolio and further investments in the property market.
The company said the shares will be issued at a premium to net asset value, meaning they'll be accretive to existing shareholders.
Picton shares were down 0.7% at 54.63 pence Thursday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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