Starwood European Real Estate announced yesterday (20 July 2015) a placing to raise up to £15m before costs with the proceeds of the placing to be used to fund a loan currently in execution and other transactions that the Investment Adviser believes have a high probability of execution in the short term. Starwood has subsequently announced today that it will now issue up to 23,780,000 Shares (c 9.9% of issued share capital) at a price of 103p per share. This being equivalent to £24.49m. The placing is to close at 5pm today.
Starwood increases size of placing to £24m : SWEF