Liberum acts as Sole Bookrunner on £16.4m fundraising for MJ Gleeson Plc

We are pleased to announce that Liberum acted as Sole Bookrunner on a placing to raise £16.4m for MJ Gleeson plc. The placing received strong demand from existing and new high-quality institutional investors, and directors of the Company.

MJ Gleeson

The placing shares were issued at 600p, a premium of 3.4% to the previous day’s market close, and represent 4.7% of the Company’s enlarged issued share capital.

Post-COVID-19 and once the safe resumption of building is permitted, the net proceeds of the Placing are intended to position the Company for an early recovery of the first-time buyer market. This will include a focus on homes for Key and Critical Workers. The Company will direct the net proceeds to accelerate the resumption of building on existing sites; accelerate the opening of sites already owned or contracted; and secure the supply chain to enable the above.

Liberum Team:

Investment Banking – Neil Patel, Richard Bootle, James Greenwood, Ed Phillips, Anthony Schia

Sales – David Parsons, Julian Collett, Oliver Baxendale, Sebastian Fernandez, Alistair Smallwood, Jamie Vickers, Ed Blair, Nick Lee, John Mozley

Research – Charlie Campbell, Marcus Cole

Legal – Rebecca Gordon, Alice Foster

CIR – Joel Knight

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