Intu to raise new equity in battle to repair balance sheet

Trafford Centre owner Intu aims to raise new equity

Retail property giant Intu intends to raise new equity as it seeks to fix its balance sheet.

The retail property giant, which owns shopping destinations such as Manchester’s Trafford Centre and Lakeside in Essex, said the fundraising would accompany its full-year results at the end of next month.

Intu made a statement on its financing plans following a Sunday Times story yesterday that said the shopping centre owner wanted to raise £1bn, which would test investor appetite for retail property after a year that saw landlords suffer in the wake of insolvencies.

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