Never miss a story- keep up to date with the latest news and insights
Unite raised approximately £300m through a placing to institutional investors and via an offer to new and existing retail investors via PrimaryBid. This marked the first time the company has included retail investors in a fundraising.
PrimaryBid’s retail offer saw strong demand and raised approximately £4m in the space of a few hours. Existing shareholders and new investors were able to participate through PrimaryBid's website, app and through its partner network of investment platforms, retail brokers and wealth managers.
Unite will use the proceeds of the capital raise to commit to two new purpose-built student accommodation development schemes and accelerate asset management initiatives to enhance future returns.
So far in 2023, PrimaryBid has already supported issuers on 4 FTSE 100 transactions.
The PrimaryBid Retail Offer was only available to investors in the UK.
Read more about the transaction here.