March 4, 2020 / 7:19 AM / a month ago

Shopping centre operator Intu's planned equity raise falls through

March 4 (Reuters) - Britain’s Intu said on Wednesday it was unable to go ahead with a planned equity raise as uncertainties in equity and retail property markets prevented investors from committing capital into the debt-laden mall operator.

The owner of Manchester’s Trafford Centre was planning a cash call of between 1 billion pounds and 1.5 billion pounds ($1.92 billion) by the end of February to shore up its balance sheet after being hit by a spate of high-profile failures in the retail industry. ($1 = 0.7806 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Bernard Orr)

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