Conygar Investment Company has revealed its intention to raise £10m through a placing to support The Island Quarter development in Nottingham.
Conygar is to conduct a placing of 6.7 million new ordinary shares at a price of 150 pence per share.
The placing price represents a discount of 7.7 per cent to the company’s closing share price of 162.5 pence per ordinary share on 16 December 2021.
Conygar Investment Company PLC (LON:CIC) is an AIM quoted property investment and development group dealing primarily in UK property.