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Property group Intu looking for extra cash

by LLP Editor
20th Jan 20 11:41 am

Property group Intu, which owns shopping centres such as Lakeside in Essex and the Trafford Centre in Manchester, has said it is looking to raise extra money to bolster its finances.

Reports at the weekend suggested the company could seek to raise up to £1bn.

Reponding to this speculation, Intu has released a statement saying it “continues to make progress in its strategy to fix the balance sheet”.

“This now includes targeting an equity raise alongside its full year results at the end of February.

“The company is currently engaged in constructive discussions with both shareholders and potential new investors on the proposed equity raise.”

Intu chief executive Matthew Roberts said: “We are making good progress with fixing the balance sheet, our number one priority, and are confident we have the right strategy in place to enable us to prosper as we see continued polarisation between the best destinations and the rest.”

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