By Devika Patel
Knoxville, Tenn., Feb. 26 - Berkeley Group Holdings plc said it will take in £50 million in a private placement of units.
The company will sell 6,041,030 units. The company's largest shareholder, Saad Investments Co. Ltd., has committed to acquire approximately 1.8 million units.
Proceeds will be used to reinforce Berkeley's balance sheet so that it can take advantage of investment opportunities.
Based in Surrey, England, Berkeley is a residential and commercial property developer.
| Issuer: | Berkeley Group Holdings plc
|
| Issue: | Units
|
| Amount: | £50 million
|
| Shares: | 6,041,030
|
| Warrants: | No
|
| Investor: | Saad Investments Co. Ltd. (for 1.8 million units)
|
| Pricing date: | Feb. 26
|
| Stock symbol: | London: BKG
|
| Stock price: | 897.5p at close Feb. 26
|
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