LONDON (Alliance News) - Globalworth Real Estate Investments Ltd on Tuesday said it is planning to raise around EUR35.0 million via a share placing to back further acquisitions.
The company said it will issue the shares at EUR6.00 per share, a 34% discount to its net asset value at the end of June. It expects to raise around EUR35.0 million, which would mean it will issue about 5.8 million shares.
The group said it has received expressions of interest from existing shareholders to subscribe for up to EUR30.0 million of the shares. The placing will be run by Cantor Fitzgerald.
The funds will be used for new investments, including a portfolio in Romania, plus funding for its ongoing development projects.
Shares in Globalworth were untraded on Tuesday, having last traded at EUR5.80.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Globalworth (GWI)