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LONDON (Alliance News) - Inland ZDP PLC said Tuesday it will raise up to GBP2.3 million via share placing to fund a loan to its holding company.
The company plans to issue 1.5 million zero dividend preference shares at 152.15 pence each.
Inland ZDP shares were trading up 1.0% at 153.50p each.
The company will lend the proceeds from the placing to its ultimate holding company, Inland Homes PLC, in an interest-free secured loan note to be entered into between the two companies on or shortly after admission, expected on Wednesday.