- GCP Student Living is proposing to raise more than GBP50 million, gross, to acquire an attractive investment opportunity through a non-pre-emptive placing.

And the company may target gross proceeds of up to GBP88m, subject to the outcome of talks and due diligence being conducted by the investment manager Gravis Capital Partners on assets located in a number of locations, including London.

The placing price will be 136.10p per ordinary share, which represents a discount to the closing mid price per ordinary share on 9 May of 136.75p, and a premium to the company’s unaudited ex-income EPRA net asset value per ordinary share as at 31 Marchof 134.06 pence. The issuance costs of this placing will be covered by this premium.

At 2:50pm: [LON:DIGS] GCP Student Living Plc share price was +0.13p at 136.88p

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