Primary Health Properties (PHP) has raised £100m via the sale of 78.1 million new shares at a net placing price of 125p, a 6.4 per cent discount to the real estate group’s undisturbed intra-day price.
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The share sale, upsized from an initial request for £75m, was supported by six of PHP’s directors or associates, who collectively ponied up £137,000. The proceeds of the fundraising will be put towards several new healthcare properties in Ireland and the UK currently under development, or which PHP has agreed in principle to forward fund.
