27th Mar 2015 09:11
LONDON (Alliance News) - Real Estate Investors PLC on Friday said it is seeking to raise GBP40 million via a share placing.
The company said it will issue the shares at 60 pence per share, meaning it will issue at least 66.7 million shares. Shares in the company were up 2.9% to 60.20 pence on Friday.
It said it has received firm commitments from some institutional investors and directors to participate in the placing, which will be handled by Liberum Capital Ltd.
The net proceeds will be used to back further acquisition opportunities in the West Midlands property market.
By Sam Unsted; [email protected]; @SamUAtAlliance
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