The potential acquisition is subject to due diligence on the acquisition and shareholder approval. Standard Life is set to invest in a £165m portfolio of 22 UK commercial properties in a bid to appeal to a wider audience of investors, which would add liquidity to existing shares. The company announced that it will leverage up to £75m of the investment whilst the remainder will be raised by issuing shares. The new batch of shares is expected to be presented to the market at a premium to the current net asset value per share which stands at 77.3p. Standard Life’s chief executive, John Cryan, said: “Over recent years we have invested heavily into our business and are now looking for ways to grow this business.
Standard Life is set to invest in a £165m portfolio of 22 UK commercial properties in a bid to appeal to a wider audience of investors, which would add liquidity to existing shares. The company announced that it will leverage up to £75m of the investment whilst the remainder will be raised by issuing shares. The new batch of shares is expected to be presented to the market at a premium to the current net asset value per share which stands at 77.3p. Standard Life’s chief executive, John Cryan, said: “Over recent years we have invested heavily into our business and are now looking for ways to grow this business.