(Alliance News) - Primary Health Properties PLC said Tuesday it planned to raise up to GBP100 million to fund its acquisition and development of new healthcare centres.
The healthcare-focused property firm intends to place shares through a bookbuild to raise GBP75 million, with the ability to upscale the offer to GBP100 million.
The bookbuild will open immediately and will be run by Numis Securities Ltd and Peel Hunt LLP. It is expected to close at 1600 BST on Tuesday.
Pricing will be determined as part of the bookbuild process.
Primary Health will use the proceeds raised to fund the "rise in the number of opportunities" for new developments in both Ireland the UK over the last year.
Shares in Primary Health were 3.7% lower at 134.66 pence in London on Tuesday, giving the firm a market capitalisation of GBP1.53 billion.
By Ahren Lester; ahrenlester@alliancenews.com
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Primary Health (PHP)