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.
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.
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