18th Apr 2018 10:22
LONDON (Alliance News) - Primary Health Properties PLC said Wednesday that it has raised GBP115 million pursuant to a previously announced share placing, exceeding the initial fundraising target of up to GBP100 million.
Under the share placing, the company will issue 106.5 million new shares at 108 pence per share. Shares were up 0.2% at 109.00 pence Wednesday.
"The proceeds will enable PHP to grow its portfolio and the board believes the pipeline of acquisition targets will deliver significant returns to shareholders. PHP continues to demonstrate its value as a growing long-term investment opportunity which, supported by ever-stronger market fundamentals, will continue to deliver significant returns." Primary Health Managing Director Harry Hyman said.
Following admission of new shares, the company will have 730.7 million shares in issue.
Related Shares:
Primary Health