2nd Oct 2019 10:58
(Alliance News) - Real Estate Credit Investments Ltd on Tuesday said it has raised GBP17 million through a share placing to invest in debt secured by commercial or residential properties in the UK and Western Europe.
The stock was trading 0.2% lower on Wednesday in London at 167.18 pence a share, giving Real Estate Credit a market capitalisation of GBP332.5 million.
The investment firm said it issued 10.2 million shares at a price of 167 pence each. Liberum Capital Ltd was sole bookrunner to the placing.
Following the admission, the company will have 209.4 million shares overall.
Real Estate Credit said the proceeds from the fundraising will be invested in secured senior real estate loans, or secured real estate-related debt securities such as commercial mortgage-backed securities.
By Evelina Grecenko; [email protected]
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