By Sheri Kasprzak
New York, Nov. 17 - The Unite Group plc said it plans to raise £29,988,000 in a private placement of stock.
The company plans to sell 8.82 million shares at 340p each.
The offering represents 7.88% of the company's outstanding share capital and is priced at the closing price of Unite's stock on Nov. 16.
UBS Investment Bank is the placement agent for the offering.
Proceeds will be used for acquisitions.
Based in London, Unite owns and rents student dormitories.
| Issuer: | The Unite Group plc
|
| Issue: | Stock
|
| Amount: | £29,988,000
|
| Shares: | 8.82 million
|
| Price: | 340p
|
| Warrants: | No
|
| Placement agent: | UBS Investment Bank
|
| Pricing date: | Nov. 17
|
| Stock price: | 340p at close Nov. 16
|
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