PHP completes £19m placing
GP landlord Primary Health Properties (PHP) has raised £19m in a placing.
The placing price of 305 pence will be used to fund acquisitions.
Harry Hyman, managing director of PHP, said: “Market conditions continue to present PHP with attractive investment opportunities.”
Brokerage Peel Hunt said that the placing should help bridge PHP’s uncovered dividend.
“With the shares yielding a high 5.7 per cent dividend, we retain our buy recommendation” analysts said.