Primary care property investor MedicX has confirmed that it has raised gross proceeds of £48.8m through a share placing.
The company said that as a result of the offer, which was substantially oversubscribed, a total of 85m new ordinary shares have been issued priced at 75p each.
MedicX is buying £20m of these shares in line with the terms of the offer, and plans to use the remaining proceeds to fund new investments and to take advantage of future pipeline opportunities.
Chairman David Staples said: “We are delighted that the fund raising was so well received by our existing shareholder base and attracted significant interest from a range of new investors, resulting in the issue being substantially over-subscribed. We believe that this demand reflects the strength of the investment proposition.”
“We continue to see a pipeline of additional investments at attractive prices and the issue positions the fund to take advantage of these opportunities.”
