StockMarketWire.com - House builder Taylor Wimpey announced it has raised gross proceeds of £522m through a placing, subscription and retail offer.

It reported that a total of 355,000,000 new ordinary shares of 1p each in the capital of the company have been placed by Citigroup Global Markets and Credit Suisse Securities at a price of 145p per placing share, representing gross proceeds from the placing of approximately £515m.

Employees and other retail investors have subscribed in the separate retail offer made by the company via the PrimaryBid platform for a total of 4,941,108 new ordinary shares of 1p each in the capital of the company at the placing price.

Taylor Wimpey added that the placing price of 145p represented a discount of 4% to the middle market closing share price of 151.8p on 17 June 2020. The company said it was 'pleased by the strong support it has received from new and existing shareholders, including a number of its existing retail shareholders via the retail offer'.


At 9:34am: [LON:TW.] Taylor Wimpey PLC share price was -7.2p at 144.6p



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