21/01/2026
We're delighted to have helped Develop North PLC with its planned £58m fundraise via a retail offer of new ordinary shares at 81.6 pence per share, alongside a separate offer for subscription.
The company is an investment trust listed on the London Stock Exchange, focused on financing residential and commercial property in the North East. Its investment adviser, Tier One Capital Ltd (based in Newcastle), is a wealth and fund management firm providing financial advice and bespoke property development lending.
Develop North plans to use proceeds of the fundraise to expand its investment portfolio. The retail offer is scheduled to close on 30th March 2026, although it may close earlier if oversubscribed. The initial issue, which includes the retail offer and offer for subscription, is subject to shareholder approval at the upcoming general meeting, with trading of the new ordinary shares on the London Stock Exchange’s Main Market expected to commence on 2nd April.
Our thanks to our wonderful clients at the company, legal advisors Gowlings, and retail offer coordinator Cavendish Capital Markets Limited.
If you'd like to find out how we can help ensure the success of your most critical corporate actions, chat with us today: hello@blackandcallow.com
