Hammerson Raises £135 Million for Strategic Acquisition

The latest update is out from Hammerson plc R.E.I.T. ( (GB:HMSO) ).

Hammerson plc has successfully completed a non-pre-emptive placing of new ordinary shares, raising approximately £135 million in net proceeds. This capital will be used to acquire the remaining 50% stake in the Bullring and Grand Central shopping centers, enhancing the company’s income and earnings potential. The placing involved the issuance of 48,253,994 new shares at a price of 287 pence each, representing a 2.5% discount to the previous closing price. The transaction reflects Hammerson’s strategy to create further value and growth opportunities, with the support of existing and new shareholders. The completion of the acquisition is contingent upon receiving approval from the South African Reserve Bank, expected by the end of August.

The most recent analyst rating on (GB:HMSO) stock is a Buy with a £350.00 price target. To see the full list of analyst forecasts on Hammerson plc R.E.I.T. stock, see the GB:HMSO Stock Forecast page.

Spark’s Take on GB:HMSO Stock

According to Spark, TipRanks’ AI Analyst, GB:HMSO is a Neutral.

Hammerson plc shows potential due to strategic acquisitions and shareholder-focused actions. However, financial performance remains a concern, with profitability and cash flow issues needing resolution. The strong technical and corporate event signals are offset by valuation challenges.

To see Spark’s full report on GB:HMSO stock, click here.

More about Hammerson plc R.E.I.T.

Hammerson plc is a real estate investment trust (REIT) that specializes in owning, managing, and developing retail properties. The company focuses on prime shopping centers and retail destinations across Europe, with a significant presence in the UK and Ireland.

Average Trading Volume: 915,648

Technical Sentiment Signal: Buy

Current Market Cap: £1.43B

For a thorough assessment of HMSO stock, go to TipRanks’ Stock Analysis page.