Care homes investor Impact Healthcare REIT is planning a £50m (€58m) fundraise by way of a share placing to help fund new investments.

The London-listed company said it will issue new shares at 108 pence each to raise the capital to enable the company fund its near term pipeline of opportunities with 11 properties under exclusivity, worth more than £60m in total.

Impact Healthcare said it has already invested the £100m it raised in May this year with the acquisition of 11 care homes. Since its initial public offering in March 2017, the company has built a diversified portfolio of 86 properties across the UK.

In addition, Impact Healthcare said its investment manager has identified organic growth opportunities to invest in the company’s existing portfolio, which is expected to deliver further income and capital growth.

Rupert Barclay, chairman of Impact Healthcare REIT, said: “The placing will enable the company to capitalise on its pipeline of attractive, near-term opportunities, which are expected to create value for shareholders at the same time as maintaining a strong balance sheet.”

The placing is expected to close at 2:00pm London time on 4 December 2019.