- KCR said Friday it plans to raise about £3.1m through a placing of over 4m shares at a discounted price of 70p a share to fund the acquisition of Inland Commercial, and for the day-to-day operations of the business.

The placing is for 4,434,570 shares of which 1,800,427 shares would be used fund the acquisition of Inland Commercial from Inland.

The issue price of 70p represented a discount of approximately 20.5% to the closing middle market price of 88p a share on 12 July 2018.

The company also said it would seek shareholder approval to proceed with its plans for placing at a general meeting expected to be held at 10.00 a.m. on 30 July 2018.

At 9:37am: [LON:KCR] KCR Residential Reit PLC share price was -13p at 75p

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