Great Portland Estates Secures Full Rights Issue Placement

Great Portland Estates plc R.E.I.T. (GB:GPE) has released an update.

Great Portland Estates plc successfully completed the placement of its Rights Issue rump, finding subscribers for all remaining shares at 340 pence per share. The proceeds, minus the original Rights Issue price and related expenses, will be proportionally distributed to rights holders who did not subscribe, except for amounts less than £5.00 which will benefit the company. BlackRock, a substantial shareholder, subscribed for 1.2 million new shares, amounting to roughly £4.08 million in this transaction.

For further insights into GB:GPE stock, check out TipRanks’ Stock Analysis page.