26th Mar 2014 11:39
LONDON (Alliance News) - Real Estate Investors PLC Wednesday said it has GBP20 million through the conditional placing of 40.0 million shares, which it will use to make acquisitions in the West Midlands property market.
The placing price of 50 pence represents a premium of 1.0% to the closing middle market price of 49.50 pence on Tuesday.
West Midlands-focused real estate investors said the placing will represent around 35.9% of its enlarged issue share capital.
Liberum Capital acted as sole broker and bookrunner and Smith & Williamson as nominated adviser to the placing
The stock was trading at 47.50 pence Wednesday, down 2.00 pence or 4.0%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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