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Target Healthcare raises GBP84m

10 May 2016 09:09

Target Healthcare said it has raised gross proceeds of GBP84m via an initial placing and offer for subscription of 80m new shares.

"Investor demand for new shares exceeded the available supply as initially targeted by the company," Target said in a statement.

"After careful consideration of the existing acquisition opportunities, the board has determined to increase the size of the initial placing and offer to 80,000,000 new shares at 105 pence per share.

"Notwithstanding the increased number of New Shares made available pursuant to the Initial Placing and Offer, investor demand still exceeded this supply and as such a scaling back exercise has been undertaken."

At 9:09am: (LON:THRL) Target Healthcare Reit Ltd share price was +0.5p at 107.5p

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