22nd May 2018 15:36
LONDON (Alliance News) - Real Estate Credit Investments Ltd said on Tuesday it plans to issue 8.7 million shares to raise funds for investment in debt secured by commercial or residential properties in the UK and Western Europe.
Shares in the real estate debt-focused investing company were down 0.9% at 165.50 pence on Tuesday.
The issue price will be determined by reference to the company's net asset value at the end of April, which was 164.70 pence per share, plus an amount to cover costs connected with the placing.
This means that Real Estate Credit is estimated to raise a minimum of GBP14.3 million.
The placing will be conducted through a bookbuild process, for which Liberum Capital Ltd is acting as sole bookrunner.
Real Estate Credit Investments said it will publish its annual results on June 15.
Related Shares:
Real Est.cred