Primary Health Properties has said that it will raise £38.6 mln (EUR 56.5 mln) to fund further growth. The financing will be raised through the issue of 9.3 million shares to institutional investors and qualified shareholders at a price of 430 pence per share.
Primary Health Properties has said that it will raise £38.6 mln (EUR 56.5 mln) to fund further growth. The financing will be raised through the issue of 9.3 million shares to institutional investors and qualified shareholders at a price of 430 pence per share.
PHP specialises in the ownership of freehold or long leasehold interest in modern purpose-built healthcare facilities. Its portfolio is made up of over seventy-five primary or committed healthcare facilities, both completed and committed, the majority of which are general practitioner surgeries. Other properties are let to Primary Care Trusts (PCTs), pharmacies and dentists. The group is jointly managed by Nexus PHP Management Limited and J O Hambro Capital Management Limited. PHP was one of the nine UK property companies that converted to real estate investment trust (REIT) status in January this year.