US investment house Soros Fund Management has doubled its holding in AIM-listed real estate lender Urban Exposure as a tender offer for the troubled company’s shares is launched.
Soros now holds a 12.97% stake in Urban Exposure, according to a stock market filing, up from 6.69%.
Urban Exposure has been undergoing a wind-down of its operations and assets since May and expects to return between 72p and 78p per share to shareholders before the fourth quarter of next year.
This week the company launched a tender offer via Liberum, its broker, for 54.57% of its share capital at 75p a share.
As of early afternoon on Tuesday, its shares were trading at 72.5p.
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