Inland Homes raises funds for acquisitions

Inland Homes said it has raised 4.9m pounds, before expenses, through the placement of more than 18m shares.

Inland Homes said it has raised 4.9m pounds, before expenses, through the placement of more than 18m shares.

The proceeds will be used for acquisitions including portfolio purchases and individual sites. The group is focused on acquiring land on greenfield sites for new developments.

"We are very pleased that the placing has allowed us not only to strengthen our balance sheet to enable us to take advantage of some of the opportunities we are seeing, but also to widen our investor base," Chief Executive Officer, Stephen Wicks said.

The announcement comes two days after the company announced it was granted planning permission for 101 homes in Chelmsford, east England.

Inland also acquired sites for developments in Markyate, Hertfordshire and Woolwich, London.

RD

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