British Land Raises £301M for Retail Park Acquisition

British Land Company plc (GB:BLND) has released an update.

British Land Company PLC successfully priced and completed a non-preemptive placing of new ordinary shares, raising gross proceeds of approximately £301 million to finance the acquisition of a portfolio of retail parks. The placement of over 69 million shares, alongside a retail offer and directors’ subscriptions, was conducted at a 3.6% discount to the closing price on the day prior to the announcement. The new shares will be admitted for trading on the London Stock Exchange and rank equally with existing shares.

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