The group announced an equity placing of up to 10% of issued shares to fund the £319 m purchase of the remaining 50% of Birmingham’s Bullring and Grand Central. The deal is expected to add £22m in annualised net rental income and be immediately earnings accretive, prompting suspension of its share buyback programme. HY25 pro forma EPS accretion is forecast at +4%, and full year guidance was upgraded.
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