Target Healthcare has boosted the size of a planned equity raise, citing strong support from investors.
The company, which invests in care homes, will now set out to raise £60m in the deal, up from a targeted £50m when the transaction was announced earlier in February.
Target Healthcare said it was lifting the target on the back of “the strong level of support from investors during the marketing roadshow, along with the attractive investment pipeline sourced by the investment manager”.
When the company announced the deal – the results of which are expected tomorrow – it said investment manager Target Fund Managers had identified a pipeline of new acquisitions valued at £224m, including £47m of “imminent acquisitions” across three care homes and one forward-funding project.
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