BDO acted as reporting accountant on Empiric Student Property’s £65.7 million placing and offer for subscription, which completed in November 2014. This represented the initial issue of 65 million shares under a one year share issuance programme of up to 300 million shares.
Empiric Student Property invests in high quality, purpose-built student accommodation assets. In the five months subsequent to its IPO in June 2014, the company had invested in 10 operating assets, two development projects and one forward funded project. The proceeds of the fundraising will be used to invest in further assets and projects in order to grow and diversify the company’s property portfolio.