21st Sep 2018 15:34
LONDON (Alliance News) - Real Estate Credit Investments Ltd on Friday said it has raised GBP23.2 million through the issue of 13.9 million shares at 167.0 pence per share.
The issue was oversubscribed due to "strong support from new and existing investors".
Real Estate Credit Investments intends to launch a new placing programme, in order to "take advantage of the continuing opportunities available within the UK and western European real estate markets".
Admission of the shares to London's Main Market is expected September 26. On admission, Real Estate Credit Investment will have 153.3 million shares in issue.
Liberum Capital Ltd was appointed as the sole bookrunner.
Chairman Bob Cowdell said: "The board is grateful for the investor support of the oversubscribed issue, which has exhausted the company's recently renewed authority to issue new ordinary shares."
"Accordingly, we believe that a new placing programme will provide the opportunity for our shareholders and new investors to participate in the company's continuing growth and enable Real Estate Credit Investments to participate in the attractive pipeline of opportunities identified by our investment manager."
Shares in Real Estate Credit Investments were down 1.0% Friday afternoon at 170.24 pence each.
Related Shares:
Real Est.cred