20th Nov 2015 07:56
LONDON (Alliance News) - Target Healthcare REIT Ltd said Friday it has raised GBP31.1 million in a discounted share placing and a sale of shares held in treasury.
The company placed 15.7 million shares at a price of 104 pence, which it said was a discount of 5.67% to its closing share price last Friday. It also sold 14.2 million shares which were held in treasury at the same price, in response to excess demand for the new shares.
Shares in Target Healthcare closed at 107.76 pence Thursday.
Target Healthcare had said on Monday, when it first announced the placing plan, that it would use the proceeds of its fundraising to make further acquisitions and increase its portfolio.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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