DSC.L Share News (DSC)

Office developer Development Securities (DS) has raised £100m from a placing and open offer, although nearly half its shareholders turned down the chance to get involved.Nearly 16.7m shares had already been placed at 240p, with shareholders given the opportunity to pick up almost 25m shares at the same price through an 8 for 13 open offer.DS received valid acceptances in respect of 14.4m shares through the offer, or 57.7% of those available. The unwanted 10.6m shares will be snapped up by institutional shareholders.The cash call, fully underwritten by Collins Stewart, doubles the size of the UK small-cap, and will help the firm capitalise on opportunities early in the property development cycle and enhance its investment portfolio.