PrimaryBid was pleased to support The Unite Group plc, the FTSE 100 UK student accommodation sector leader, on its latest fundraising. 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.
A Unite Students spokesperson commented:
“We were delighted to partner with PrimaryBid to include new and existing retail investors in our recent capital raise. We value our retail investor base and giving them the opportunity to participate in equity fundraises alongside institutions is part of how we are building a diverse share register and long-term source of funding for the business.”
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.