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I'm not so sure that there will be a further IPO imminently. I don't have the numbers to hand but from recollection they said they would raise £165m in equity over 12 months from 1 March 16, of which they raised £125m in mid March 16, ie only £40m left which I imagine could be more cheaply raised by a institutional placing then new public offer. I'm not clear if the original 165m can be increased or not. Also, given target LTV of 35% and low yields on offer they might go for more loans, similar to today's announcement. That said I'm a holder as this is a great asset back index linked quasi bond, when all bonds are sky high.
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