Gleeson has announced a proposed placing of up to 2,730,100 new ordinary shares (c.4.9% of ISC) at a price of 600p. The placing is expected to raise gross proceeds of c.£16.4m. The net proceeds of the fund raise will ensure the Company is well placed to rapidly meet pent-up demand from first time buyers as and when COVID-19 restrictions are lifted. Funds will be used to accelerate the resumption of building on existing sites, accelerate the opening of sites already owned or contracted (
08 Apr 2020
Proposed placing to raise £16.4m
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Proposed placing to raise £16.4m
MJ Gleeson PLC (GLE:LON) | 504 0 0.0% | Mkt Cap: 294.1m
- Published:
08 Apr 2020 -
Author:
Greg Poulton -
Pages:
3
Gleeson has announced a proposed placing of up to 2,730,100 new ordinary shares (c.4.9% of ISC) at a price of 600p. The placing is expected to raise gross proceeds of c.£16.4m. The net proceeds of the fund raise will ensure the Company is well placed to rapidly meet pent-up demand from first time buyers as and when COVID-19 restrictions are lifted. Funds will be used to accelerate the resumption of building on existing sites, accelerate the opening of sites already owned or contracted (