13th Feb 2020 14:28
(Alliance News) - Real Estate Credit Investments Ltd said Thursday it will raise around GBP249 million through a 12-month share placing programme, which will go towards growing its portfolio.
The placing will see Real Estate Credit issue 150 million shares at a price based on the latest unaudited net asset value per share of 166.0 pence as at January 31.
Shares in Real Estate Credit - which is based in St Peter Port, Guernsey - remained flat at 172.00 pence on Thursday in London.
Liberum Capital has been appointed as sponsor and bookrunner for the placing programme.
The placing programme is subject to gaining shareholder approval at an extraordinary general meeting scheduled for March 10.
"Following the success of the recent oversubscribed tap issue, the proposed placing programme will position the company to carry out further issues and take advantage of attractive investment opportunities over the next year," said Chair Bob Cowdell.
By Dayo Laniyan; [email protected]
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