Great Portland Estates seeks funds for West End shopping spree

On the back of solid interim results Great Portland Estates (GPE) has said it is looking to raise significant funding to enable it to make further acquisitions in London's West End.

On the back of solid interim results Great Portland Estates (GPE) has said it is looking to raise significant funding to enable it to make further acquisitions in London's West End.

The property company plans to raise around £140m via a proposed placing of up to 31.25m shares. A spokesperson was coy about the proposed issue price as the book has not yet been built, but it is likely to be at a discount to yesterday's closing price of 459.3p, given the dilutive effect of the placing (9.99% of the current issued share capital).

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