Property owner Hammerson is reportedly set to ask its shareholders for £600M in an attempt to make its way through the current coronavirus pandemic.
The developer, which counts as its properties Birmingham’s Bullring centre and Brent Cross in London is allegedly in talks to sell its 50 per cent stake in VIA Outlets, a portfolio of European shopping destinations.
Plans are currently being drawn up for the company for a rights issue that could raise more than its current market capitalisation, Sky News reported. The business could receive up £600M for the cash call, as revenues for the property giants are expected to drop in the wake of the coronavirus pandemic.
In other Hammerson news, they have also announced that Chief Executive David Atkins will step down frlom his role by next spring.
