Unite sells shares at 3.1% discount, hails 'strong' investor support

Unite Group has successfully completed its placing of shares in the company for gross proceeds of approximately £300.0m.

The shares were sold at a 3.1% discount to the prior session's middle market closing price or at 870.0p and represented roughly 9.5% of the group's capital prior to the placing.

As previously announced, certain directors of the student accommodation group participated in the placing, for an aggregate amount of roughly £175,000.

"The Company is pleased by the strong support it has received from new investors and existing shareholders," Unite said in a statement.

The new shares were expected to be admitted to trading on the London Stock Exchange's main market at 08:00 BST on 29 June.