It is issuing up to 29.6 million new ordinary shares via an initial placing, open offer, offer for subscription and intermediaries offer. The shares are being issued at 135.5 pence each, a 6.1% discount to its closing price of 144.25 pence on June 11, the day before the company said it was planning the fund raising. However, the issue price is a 3.9% premium to the company's net asset value per share of 130.4 pence on March 31.
Under the open offer shareholders will be able to buy four of the discounted shares for every 19 existing shares held.
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