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Home REIT PLC - London-based homeless accommodation investor - Announces placing to raise GBP150 million for further investment into accommodation for homeless people in the UK. The company is targeting the issue of 130.4 million shares at a price of 115 pence each. This represents a 5.7% discount to the closing price of 122p per share on May 13. The placing will close on May 26.
Chair Lynne Fennah says: "This placing will significantly enhance our capacity to invest in the provision of high-quality accommodation for homeless people across the UK at a time of grave necessity. The proceeds will enable us to continue expanding our existing portfolio."
Current stock price: 118.60 pence, down 2.8% in London
12-month change: up 6.4%
By Heather Rydings; heatherrydings@alliancenews.com
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