Unite Group, the UK student accommodation firm, has announced plans for a share issue to raise £77.8 mln (EUR 87 mln) net of expenses 'to take advantage of compelling acquisition opportunities in London'. The fundraising will involve the issue of 32.8 million shares through a firm placing and placing and open offer at 250 pence per share.
Unite Group, the UK student accommodation firm, has announced plans for a share issue to raise £77.8 mln (EUR 87 mln) net of expenses 'to take advantage of compelling acquisition opportunities in London'. The fundraising will involve the issue of 32.8 million shares through a firm placing and placing and open offer at 250 pence per share.
CEO Mark Allan said: 'The board believes that current conditions in the real estate market present an opportunity to acquire well located development sites at attractive prices in London between now and early 2011. Consequently, the company is now seeking to undertake this fundraising to pursue these opportunities.'
