Hammerson PLC

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Investec assisted Hammerson PLC ("Hammerson") in raising 10% of its existing issued share capital through an accelerated bookbuild to support the acquisition of a 50% interest in Manchester Arndale. One of the UK’s largest retail centres, Manchester Arndale is a leading city-centre destination attracting more than 45 million visitors annually.

Transaction overview

Hammerson PLC successfully raised 10% of its existing issued share capital through a cross-border, institutional placing. The placing comprised of a placing of around 52.1 million new ordinary shares in the capital of the company and was conducted through an accelerated bookbuild. The transaction was notably oversubscribed and concluded at a discount of 3.8% to the pre-launch closing price. The book was well supported by both South African and international institutions.

"Investec is proud to have acted as Financial Adviser and Sole South African Bookrunner for Hammerson in their primary equity raise of c.R4.1 billion. Our ongoing support of our clients' growth strategy, entrenched Real Estate sector expertise and our access to deep pools of local and international institutional capital has unlocked a transaction which was multiple times oversubscribed. We wish Hammerson and its shareholders many more successes as we continue to build on our partnership" - Ashleigh Williams, Investec Equity Capital Markets South Africa

About Hammerson PLC

Hammerson PLC is a London primary-listed real estate company and pure-play owner and manager of prime retail-led destinations, operating primarily across the United Kingdom, Ireland, and France. The company's core activities encompass the ownership, active management, and strategic repositioning of flagship city-centre retail assets.