8th May 2019 11:37
LONDON (Alliance News) - Real Estate Credit Investments Ltd on Wednesday said it intends to raise new capital via a share offering at 170 pence per share.
The placing size was not disclosed but it will be carried out under the company's authority to issue up to 100 million shares.
The issue price of 170p per share is 2.9% discount to the closing share price of 175p on Tuesday. Shares on Wednesday were trading down 0.8% at 173.60p each.
The company will use the net proceeds raised in the placing to primarily invest in debt secured by commercial or residential properties in the UK and Western Europe.
The placing opened on Wednesday and is expected to close on May 23.
Liberum Capital Ltd has been appointed as sole bookrunner in relation to the placing.
Related Shares:
Real Est.cred