Assura share placing falls £20m short of target

Warrington-based primary care property investor and developer Assura has announced its share placing which aimed to raise of £330m has fallen £20m short of its target.

The company said the gross proceeds of the share issue first announced on November 16 were £310.7m when it closed on Friday (December 1).

The placing was partly to fund its £209m of near-term acquisitions and developments as it continues to see opportunities to make further inroads into the primary care property market.

It was timed to coincide with interim half-year results which show a 76% increase in pre-tax profits to £73.4m (2016: £41.7m).