Capital & Regional PLC - London-based real estate investment trust - Says it has completed its acquisition of the Gyle Shopping Centre in Scotland. "The acquisition of The Gyle Shopping Centre, supported by the successful equity raise, reflects the confidence that investors have in our needs based non-discretionary community centre strategy, our management platform and portfolio," Capital & Regional Chief Executive Lawrence Hutchings says.
The company said late last month it had raised GBP25 million through an open offer of shares to partially fund its acquisition of the Gyle Shopping Centre. Earlier last month, the real estate investment trust announced it had agreed to buy the Gyle shopping centre in Edinburgh for GBP40 million.
Current stock price in London: 58.65 pence, down 2.3% on Wednesday morning
12-month change: down 1.1%
Current stock price in Johannesburg: ZAR13.27, down 0.6%
12-month change: up 43%
By Artwell Dlamini, Alliance News reporter
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Capital & Regional (CAL)