Redefine International : RDI – planning placing

Redefine International has announced that it hopes to issue 86.6m shares or 7.5% of its issued share capital to fund some tidying up of minority interests in its portfolio, c£10m of redevelopment opportunities in its German retail portfolio, repaying a £20m debt facility and fund potential acquisitions.

The fund raising exercise will take place in South Africa (where the size of the issue is limited to 5% of the company) and London (where the issue size could be expanded so that, overall, RDI issues shares equivalent to 9.9% of its current issued share capital).

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