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Capital & Regional PLC - London-based mall owner which property firm Growthpoint Properties Ltd has a major shareholding in - Says footfall outperforming UK national average by 5.4%. Capital & Regional says its portfolio saw 32.4 million visitors in nine months to September. "Encouragingly, September 2021 represented our best month on month comparison versus 2019, following the end of the government lockdown in April 2021," company adds. It has now received, or has formalised payment plans in place for 88% of rent due for year-to-date. Confident this will grow beyond the 90% achieved for 2020. It completed 57 new lettings during period at combined value of GBP2.1 million.
In addition, Capital & Regional says it successfully raises GBP30 million from open offer. It receives acceptances for 39.3 million shares, worth just over 73% of open offer. Growthpoint subscribes for remaining 14.3 million, taking its participation in Capital & Regional's open offer to 42.2 million shares. On admission of open offer shares, Growthpoint's stake will be just under 61%.
Capital & Regional's current stock price: 59.00 pence
Year-to-date change: down 15%
By Eric Cunha; ericcunha@alliancenews.com
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