(Alliance News) - Care home investor Target Healthcare REIT PLC has increased the size of a planned placing, it said Wednesday, after "strong" investor interest.
Early in September, Target said it wanted to raise GBP50 million in a share placing to continue developing its portfolio.
However, after speaking to investors at a marketing roadshow, and also identifying further potential deals with its investment manager, Target has upped the target to "in excess" of GBP60 million.
Target expects to unveil the results and pricing of the placing on Thursday.
"This proposed placing will enable us to maintain the momentum behind the growth strategy. We have already identified a significant pipeline of opportunities that will bring tenant and geographic diversification to the portfolio, as well as allowing us to continue to grow the size and scale of the business," Chair Malcolm Naish said early September.
Target shares were 0.5% higher on Wednesday afternoon in London at 110.80 pence each.
By George Collard; georgecollard@alliancenews.com
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Target Healthc. (THRL)