Hanover International, which came to the market last year with one hotel, is placing 15.8m shares at 124p each as part of a capital-raising issue to fund the purchase of hotels. Last week the company said it had agreed to buy six UK hotels from UFB Group, a subsidiary of Paribas, for £40m. Its share were suspended at 150p pending an EGM on August 23. The balance of the £40m will be met through debt.
- Financial Times 1/8/96 page 15
