Helical raises cash to exploit opportunity

Helical Bar has announced a placing of up to new shares to raise around £29m to allow them to “pursue  new compelling opportunities in the real estate sector”.

The company will place 10,730,000 new ordinary shares, using the proceeds to provide extra financial resources. Helical Bar say they have strong support already indicated by existing shareholders and other institutions.

They last raised capital in January 2009, which helped them make significant investments since when they have made two major acquisitions – the Clydesdale Shopping Centre, Glasgow, and the Focus Fund – using £25.8 million of equity.

They say they have “identified a number of attractive investment opportunities in the UK” and are in “detailed negotiations for several office and mixed-use development schemes in Central London”.

In June this year, in their results statement, Helical indicated a strong desire to invest in West London, where they already have a strong presence – with Fulham Wharf, King Streetand Creative London all part of their development portfolio. 

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