St Modwen aims to raise cash for New Covent Garden scheme

BIRMINGHAM developer St Modwen is aiming to raise around £2m through a share placing.

The firm wants to use the money - to be raised through placing 20,016,057 shares at 10p each - to fund, in part, its share of the development of the New Covent Garden Market (NCGM) site, by way of its joint venture with VINCI Investments Limited.

NCGM forms part of the regeneration of the Nine Elms area, one of central London's key mixed use development areas.

Bill Oliver, St Modwen's chief executive, said: "The redevelopment o... For the full story register now for free or login below...