TOC Property seeks to diversify its real estate loans portfolio

TOC Property Backed Lending Trust, announced its intention to raise up to £1m on Monday, in order to continue growing its portfolio of real estate loans.

The closed-end investment company said it intended to issue up to 1m placing shares pursuant to the transaction, to be conducted through an accelerated "bookbuild" process by finnCap, a British investment bank and a corporate and institutional stockbroker.

The process was to commence immediately, with the book expected to close by evening time on Monday 16 October 2017, or earlier under finnCap's discretion absent any further notice.

Neither would the placing require additional approval of Shareholders, the company said.

Having applied for the placing of shares to be admitted to the premium listing segment of the Official List of the FCA as well as to trading on the main market for listed securities of the London Stock Exchange, the company now expected settlement for placing and admission of shares to take place, early morning, on or before 19 October 2017.