FINANCE: Picton Property Income has successfully placed over 51m shares and raised £35.2m for future investments.
The company has now closed its placement programme, which has raised £102m.
Picton chairman Nick Thompson said: “We have now achieved the objective we set in May last year to expand the company by raising more than £100m under the placing programme. The support of our existing and new shareholders provides a clear endorsement of our approach and ambitions to grow the company, while maximising shareholder value and continuing to reduce the total expense ratio.”
JP Morgan Cazenove and Stifel Nicolaus Europe Ltd were the placement agents.
