Hammerson enjoys high take-up in rights issue

By Sam Kerr
25 Sep 2020

Hammerson, the UK property company, completed its £552m rights issue with a 94.9% take-up for existing shareholders. The remaining shares were sold to investors on Friday morning in an accelerated placement.

JP Morgan and Morgan Stanley were global coordinators on the fully underwritten deal. Barclays was a bookrunner.

The company’s shareholders were offered 24 shares for every one they own at 15p a share, a 41.4% discount to the theoretical ex-rights price, based on the LSE reference share price on August ...

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