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Springfield Properties to buy Dawn Homes for £20 financed by share placing and RCF

Springfield Properties, the Scottish housebuilder, has completed the corporate acquisition of Dawn Homes, the Glasgow-based housebuilder, for up to £20.1m, partially financed by a proposed £15m equity raising through the issuance of 12.5m shares and existing debt headroom.
By James Wallace
May 2, 2018 | 1:51 P.M.

Dawn Homes specialises in building private housing in West Central Scotland and Ayrshire. Springfield will pay an initial £17.6m comprised of £15.5m in cash, initially financed by available headroom within its existing revolving credit facility, and £2.1m by the issuance of 1.75m new ordinary shares.

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