UK-listed Target Healthcare REIT has raised gross proceeds of £60 million through an oversubscribed issue of 54,054,054 new shares by way of initial issue.
”After careful consideration of the strong level of support and quality of demand from investors in the initial issue alongside the pipeline of suitable investment properties available, the board determined to increase the size of the initial issue from £50 million to £60 million,” said the company in a statement.
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“We are very pleased to have completed this oversubscribed equity raise and would like to thank all our investors for their ongoing support. Given the challenges that our sector has faced over the past 12 months, this is a strong endorsement of the company’s investment case, purpose and outlook as we emerge from this pandemic and resume the careful expansion of the portfolio in line with our stringent investment strategy,” said Malcolm Naish, Chairman of Target Healthcare REIT.