Unitech raises $360m through LSE IPO

LONDON: Realty major Unitech has raised 360 million pounds (approximately Rs 3,156 crore) through an initial public offer (IPO) on the London Stock Exchange (LSE). The company had recently listed its new real estate investment arm Unitech Corporate Parks (UCP) on LSE’s AIM market. UCP on Friday said it has placed 360 million ordinary shares of one pence each (face value) through the IPO as it aims to invest in the Indian real estate sector. The shares have been placed at 100 pence per share, taking the total issue proceeds to 360 million pounds, the company said in a regulatory filing with the LSE.

The conditional trading in these shares began on Friday on the LSE’s AIM market, while the unconditional trading would commence on December 20, it said.

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