Unite Group PLC said Thursday that it has raised 300 million pounds ($372.6 million) via the share placing announced late Wednesday, with proceeds to be used toward new schemes under offer and to enable it to capitalize on new university partnership and development opportunities.
The student-accommodation builder said it has placed 34.5 million new ordinary shares at 870 pence each, a 3.1% discount to Wednesday's closing price of 897.50 pence. Unite said late Wednesday that it was planning to raise money and place the shares via a bookbuild program.
Alongside the placing some directors have subscribed for 20,113 new shares, raising GBP175,000, the company said.
Write to Ian Walker at ian.walker@wsj.com
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