UK real estate group Quintain Estates and Development said on Thursday that it proposes to raise approximately £183 mln (EUR 204 mln) in a deeply discounted rights issue. The operation will involve the issue of 390 million shares at 49 pence per share. The price irepresents more than a 70% discount on Wednesday's share price.
UK real estate group Quintain Estates and Development said on Thursday that it proposes to raise approximately £183 mln (EUR 204 mln) in a deeply discounted rights issue. The operation will involve the issue of 390 million shares at 49 pence per share. The price irepresents more than a 70% discount on Wednesday's share price.
The proceeds of the 3-for-1 issue will in the first instance be used to reduce the group's borrowings. It is intended that the balance of the proceeds will be used to selectively advance the next phases of the Group's two major urban regeneration schemes at Wembley and Greenwich.
