News Column

New Europe Property Investments In EUR80 Million Equity Issue

August 4, 2014

Steve McGrath

LONDON (Alliance News) - New Europe Property Investments PLC Monday said the books have opened on a ZAR1.14 billion, or about EUR80 million, equity raising, money it will use to help fund its future development and extension pipeline as well as possible acquisitions.

In a statement, the company said it is issuing the shares through a so-called accelerated book build, whereby little or no marketing is done. Macquarie First South Capital Proprietary Ltd is acting as the sole bookrunner.

The company's shares were up 6.1% at 6.50 pence early Monday.

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Source: Alliance News

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