LONDON (Alliance News) - Starwood European Real Estate Finance Ltd on Monday said it is seeking to raise at least GBP50 million in share placings.
The company said it is to raise the funds by issuing new ordinary shares at 102.75 pence, and potential C shares at 100p.
The proceeds from the new ordinary shares are to be used to make real-estate loans. Proceeds from C shares are expected to be held for investment in the company's "near-term pipeline of potential investment opportunities".
The C shares are likely to be converted into ordinary shares within three months of admission - expected on September 29 - although that is not guaranteed.
The company's ordinary shares were down 0.2% at 104.25p on Monday afternoon.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Starwood Eur (SWEF)