UK real estate firm Development Securities has announced that has completed its fully underwritten share issue to raise 拢100 mln (EUR 116.5 mln). Development Securities said it received valid acceptances in respect of 14.4 million, or 57.7% of the open offer Shares from shareholders. The remaining 10.6 million shares were subsequently allocated to institutional investors.
UK real estate firm Development Securities has announced that has completed its fully underwritten share issue to raise 拢100 mln (EUR 116.5 mln). Development Securities said it received valid acceptances in respect of 14.4 million, or 57.7% of the open offer Shares from shareholders. The remaining 10.6 million shares were subsequently allocated to institutional investors.
Development Securities has said it will use the proceeds to capitalise on opportunities early in the property development cycle and enhance the group's investment portfolio.
