trending Market Intelligence /marketintelligence/en/news-insights/trending/kg7c-_Xj4sPyIXyd-Jamww2 content esgSubNav
In This List

GCP Student Living to raise £60M via new shares for London acquisition

Blog

Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise

Blog

FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


GCP Student Living to raise £60M via new shares for London acquisition

GCP Student Living Plc is looking to raise more than £60 million though the initial issue of its share placing program for 2017.

The company set the issue price at 140 pence per share, which reflects a discount to the closing mid-price of 143 pence per ordinary share as at Feb. 1.

Net proceeds from the issue will be used to acquire a private student residential asset in central London for which the company entered into an exclusive agreement Jan. 25.

GCP said the initial issue, expected to close Feb. 21 or earlier, is conditional on raising gross proceeds of more than £42.5 million, and has a maximum limit of £90 million.

Admission of the new shares for trading on the London Stock Exchange's main market is expected Feb. 24.