Helical Bar has raised almost EUR 30 mln from a share issue to give the London-listed firm extra firepower to 'pursue additional compelling opportunities' in the UK real estate sector.
Helical Bar has raised almost EUR 30 mln from a share issue to give the London-listed firm extra firepower to 'pursue additional compelling opportunities' in the UK real estate sector.
The share issue on Wednesday equalled 9.99% of Helical's share capital prior to the placement. The new shares were placed by JPMorgan Cazenove at a price of 285 pence per share.
Mike Slade, Helical Bar's CEO, said: 'The successful equity raising of £27.7 mln provides us with the extra financial firepower to take even greater advantage of the significant value that is now emerging in the property market.
'We are delighted that, with the backing of existing and new investors, we are extremely well placed to move swiftly in selecting and executing the best deals to create long term value for our shareholders.'
Helical Bar also confirmed that it has identified investment partners who want to cooperate with the company in buying property that benefit from 'enhanced returns'.
