Deal to finance acquisition opportunities in the West Midlands market
By Devika Patel
Knoxville, Tenn., July 1 - Real Estate Investors plc said it has conditionally raised £12 million in a private placement of stock.
The company sold 218,181,821 ordinary shares at 5.5p each, a 4.35% discount to the June 30 closing share price of 5.75p.
Proceeds will be used for acquisition opportunities in the West Midlands property market.
Real Estate Investors is a property investment company in Rickmansworth, England.
| Issuer: | Real Estate Investors plc
|
| Issue: | Ordinary shares
|
| Amount: | £12 million
|
| Shares: | 218,181,821
|
| Price: | 5.5p
|
| Warrants: | No
|
| Settlement date: | July 1
|
| Stock symbol: | London: RLE
|
| Stock price: | 5.674p at close July 1
|
| Market capitalization: | £26.66 million
|
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