18th Jun 2020 08:57
(Alliance News) - Taylor Wimpey PLC on Thursday said it raised GBP515 million through the placing of 355 million shares at 145 pence each.
The placing price represents a 4% discount to Wednesday's close of 151.8p. Shares in the FTSE 100 housebuilder were trading 4.9% lower at 144.41p each on Thursday morning in London, giving it a market capitalisation of GBP4.75 billion.
Taylor Wimpey said that alongside the placing, which was launched Wednesday, directors of the company subscribed for a total of 324,823 shares. Additionally, other employees and retail investors subscribed for a total of 4.9 million shares in the separate retail offer via the PrimaryBid platform.
The placing, subscription and retail offer raised a total of around GBP522 million
"The proceeds of the placing, subscription and retail offer will provide the company with additional capacity to take full advantage of significant near-term opportunities in the land market," the company said.
Following admission of the new shares, Taylor Wimpey's share capital will comprise 3.64 billion shares.
By Ife Taiwo; [email protected].
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