Land Securities announces that it is in discussions with investors following press speculation that up to 拢750m could be raised

Land Securities has confirmed it is working on plans for a rights issue.

In a Stock Exchange announcement, the firm said discussions with investors had taken place and added: 鈥淎ny discussions will be communicated to shareholders through the proper channels at the proper time.鈥�

There was speculation in the weekend press the firm is targeting as much as 拢750m with the issue tipped to be launched later this week.

Last Thursday, British Land asked investors for 拢740m while another developer, Hammerson, raised 拢584m from a discounted rights issue last week.

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