Great Portland Estates plc R.E.I.T. (GB:GPE) has released an update.
Great Portland Estates plc has successfully completed a Rights Issue, raising gross proceeds of £350 million with a 96.82% acceptance rate for the new ordinary shares offered. The funds are intended to capitalize on new opportunities in central London’s real estate market, particularly in the West End amid an investment market disruption and a supply drought of high-quality spaces. Trading of the new shares on the London Stock Exchange commenced on June 12, 2024.
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