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Intu confirms fundraising discussions with Link Real Estate
10th Feb 2020 09:48
(Sharecast News) - Intu Properties confirmed that it is in "constructive discussions" with Link Real Estate on Monday, following press speculation over the weekend.
A report in the Sunday Times suggested Hong Kong-based Link was in talks with Intu about becoming the 'cornerstone' investor in a fundraising, which would launched at its full-year results this month.
Peel Group, owned by property tycoon John Whittaker, which currently owns 27.3% of Intu, was expected to support the fundraising.
The speculation comes after a statement from Intu last month read that it was also in talks with "potential new investors".
On Monday, Intu confirmed it was in talks with existing shareholders, including the Peel Group and others, and new investors including Link Real Estate Investment Trust and others, in relation to a proposed equity raise alongside its full-year results at the end of February.
"The company will make further announcements in due course, as appropriate," its board said in its statement.
"There can be no certainty that the equity raise will be implemented nor as to the terms on which any such implementation might occur."
At 0944 GMT, shares in Intu Properties were up 17.19% at 15.7p.
A report in the Sunday Times suggested Hong Kong-based Link was in talks with Intu about becoming the 'cornerstone' investor in a fundraising, which would launched at its full-year results this month.
Peel Group, owned by property tycoon John Whittaker, which currently owns 27.3% of Intu, was expected to support the fundraising.
The speculation comes after a statement from Intu last month read that it was also in talks with "potential new investors".
On Monday, Intu confirmed it was in talks with existing shareholders, including the Peel Group and others, and new investors including Link Real Estate Investment Trust and others, in relation to a proposed equity raise alongside its full-year results at the end of February.
"The company will make further announcements in due course, as appropriate," its board said in its statement.
"There can be no certainty that the equity raise will be implemented nor as to the terms on which any such implementation might occur."
At 0944 GMT, shares in Intu Properties were up 17.19% at 15.7p.