Liberty International this morning confirmed it was considering ‘capital raising alternatives’ to protect its balance sheet from falling property values.
In a Stock Exchange announcement it said: ‘Liberty International notes the recent press coverage in relation to a possible equity capital raising. The directors confirm that they are considering capital raising alternatives and any firm proposals will be communicated directly to shareholders at the appropriate time.’
The announcement followed the leads of rival REITs Segro and Brixton yesterday after their share prices dropped on the back of fears that they would miss the boat to raise capital.
It also came in the wake of Land Securities’ deeply discounted £755.7m capital raising announced this morning to shore up its balance sheet.