News Column

DIRECTOR DEALINGS: Empiric Student Executives Buy Shares In IPO

June 30, 2014

Arvind Bhunjun

LONDON (Alliance News) - Empiric Student Property PLC Monday said a group of executives bought shares at a price of 100 pence per share as part of the company's initial public offering last week.

Brenda Dean33,500
Jim Prower11,880
Michael Enright500,000
Paul Hadaway875,000
Tim Attlee875,000

Empiric Student Property PLC had said Thursday that it raised GBP85 million in its IPO, through the placing and offer for subscription of shares at 100 pence each.

The real estate investment trust said it plans to invest in high-end student accommodation assets, with a focus on assets in prime city centre locations in top university cities in the UK.

The company said its executive team had identified a portfolio of assets including eleven properties with 1,100 beds. It expects to complete on four of the properties shortly after admission. After that, it will seek to grow the portfolio further, targeting a portfolio of assets with 8,000 to 10,000 beds over the next few years.

Shares closed up 2.0% at 102.00 pence Monday.

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Source: Alliance News

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