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(Alliance News) - Picton Property Income Ltd said Tuesday it had raised GBP7 million through a discounted share placing in order to finance the improvement if its current portfolio.
Last Wednesday, Picton announced it would launch the placing. On Tuesday, it confirmed it had issued 7.6 million shares at 94.50 pence each to raise GBP7.1 million in gross proceeds.
Shares in Picton were 0.1% lower at 95.45 pence in London on Tuesday.
"The proceeds that we have raised today will assist in funding our identified capital expenditure initiatives, thereby enhancing the quality of our portfolio. We thank both existing and new investors for their support," Picton Chief Executive Officer Michael Morris said.