Quintain Estates & Development has confirmed it is considering an equity raising in response to press speculation.
Its shares rose 15% to 25p on the rumour this morning that it was considering a £100m equity issue. Shares are now at 23.25p.
Quintain, which owns development projects in Wembley and Greenwich, said: ‘The company confirms that it is considering, among other options, the possibility of an equity capital raising and any decisions will be communicated to shareholders as appropriate.’
If it launches an equity raising, it will follow British Land, Land Securities, Hammerson and Segro in raising more than £2bn to shore up their balance sheets.
Quintain’s share price has fallen by almost 95% in the last year.
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