1st Jun 2018 11:22
LONDON (Alliance News) - Real Estate Credit Investments Ltd on Friday said it has cancelled a share issue due to "current volatility" in the equity market.
In mid-May, the real estate debt-focused investor said it was to issue 8.7 million shares. The priced would be determined on its net asset value at April-end, which was 164.70 pence, plus extra to cover the placing costs.
It had hoped to raise a minimum of GBP14.3 million, with the process enacted through a bookbuild run solely by Liberum Capital Ltd.
Real Estate Credit did not give any details as to whether it might issue shares in future.
Shares were 0.3% higher on Friday at 165.50p apiece.
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