Empiric raises £56m through share sale

Empiric Student Property has raised more than £56m through new share sales. The company placed 59,686,950 new ordinary shares to raise £55.5m with investors including its own directors. It also placed 663,714 shares in a RetailBook offer to secure a further £600,000. Chief executive Duncan Garrood said: “We would like to thank shareholders for their continued support. This placing will allow the business to grow, drive operational margins and create long-term shareholder value.​ “There is a fantastic opportunity now ahead of us. We will remain focused on doing what we do best; creating high-quality, modern student accommodation serving top-tier universities, incrementally driving value to generate stable, long-term returns for our shareholders.”