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The Guardian: "Hammerson slides 2% after surprise £400m fundraising"

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"Property group Hammerson has slipped back after unveiling a surprise* fundraising of around £400m. [*As in: "Ooo!"]

"Hammerson plans to place up to 71.3m new shares with institutional investors, to help buy out its joint venture partner in Leicester's Highcross shopping centre, as well as to expand in Europe.

"It is paying £280m to buy the Royal Mail pension plan's 40% stake in Highcross, £70m for an investment in VIA Outlets which has bought sites in several cities including Prague and Amsterdam, and £30m to Value Retail to fund extensions at Bicester Village and Kildare Village outlet centres."

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