Student houser Unite to raise £82m in City
Student housing developer Unite Group is raising £82m by selling new shares at 250p to City investors as it seeks to exploit a dearth of student homes in London.
The shares soared in morning trade today, rising 7.25p to 286.25p by lunch – a 2.6% gain.
Unite chief executive Mark Allan said the objective this next year is to buy up three years’ worth of development land while prices are low, and deliver those from 2012 to 2014 …