Quintain considering cash call
Property group Quintain Estates has confirmed it is considering a fundraising after reports that it was looking to raise £180 million.
The firm, which is behind the redevelopment of parts of London's Greenwich peninsula as well as iQ student accommodation, said no decision had yet been made over the potential move.
Quintain, which recently sold its stake in the O2 Arena, made the announcement following weekend reports that it had won shareholder support for a rights issue and would announce the move this week.
According to a national newspaper the new money would be used to fund acquisitions, advance development plans and provide breathing space with lenders.
A statement from the firm read: "Quintain Estates & Development plc notes the recent media comment regarding a potential equity issue by the company.
"The board confirms that it is considering an equity issue, however no formal decision has been made by the company at this time."
Quintain said it would make a further announcement "as appropriate".
If it does launch a fundraising it would be the latest in a long line of property firms to turn to shareholders for a cash boost.
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