Urban Logistics’ shares closed 4% down, after it announced plans to raise £108m through a share placing and an additional offer to the public through the PrimaryBid platform.
The last-mile logistics company’s stock fell after it said it would offer four million shares to retail investors on PrimaryBid at 155p per share. This represents a 5.2% discount to yesterday’s (29 June) closing price. It finished at 157p today.
A number of other listed real estate companies also posted falls on a generally poor day for the UK markets, amid concerns that a recent jump in coronavirus infections could hinder the pace of economic growth.
LondonMetric fell by 1.3% to 231p, Capco fell by 1.2% to 161p and Hammerson fell by 1.1% to 37p.
The FTSE 100 was up by 0.7% at 7,037 points. The FTSE 250 also fell by 0.7% to 22,376 points.
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