Unite Group plc (GB:UTG) has released an update.
Unite Group PLC has successfully raised approximately £450 million through the issuance of 50 million new ordinary shares, representing about 11.4% of its pre-raise capital. The capital will be used to purchase assets with management potential, fund joint ventures, and commit to new development schemes. CEO Joe Lister confirms the funding will support doubling their pipeline and enhance returns, reinforcing the robust student accommodation sector.
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