BlackRock has become a major shareholder in GPE after taking a sizeable share of its £350m rights issue.
In a stock market notice, GPE said bookrunners Bank of America Securities, Deutsche Numis and JP Morgan have now placed the 9,280,331 new shares not taken up in the rights issue at a price of 340p each.
The company said BlackRock subscribed for 1.2m shares in the placing for £4.08m.
GPE said funds linked to BlackRock now hold more than 10% of its shares, making the fund manager a “substantial shareholder” and “related party” under listing rules.
Send feedback to Tim Burke
Follow Estates Gazette
