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LONDON (Alliance News) - Irish homebuilding company Glenveagh Properties PLC said Friday its EUR213 million financing has now concluded.
Glenveagh announced its intention to raise EUR213 million back in July through the issue of 185.3 million shares at EUR1.15 per share. Of this, EUR85 million had already been raised through a firm placing of 74.1 million shares with the other 111.2 million shares to be issued through a placing and open offer.
The company said that its open offer for the 111.2 million shares closed on Thursday with 33%, or 36.9 million shares, accepted.
The final 67%, 74.2 million shares in total, have been allocated to investors who conditionally accepted them during the placing.
The company will seek shareholder approval to admit these shares at a general meeting on Monday. Once admitted, Glenveagh's shares in issue will total 871.3 million.
Shares in Glenveagh were trading down 4.3% at EUR1.10 on Friday.