Conygar to raise 60m in placing

Property trading and development group Conygar said yesterday it intends to raise at least £60m via a share placing at 105p per share, to position it to take advantage of UK investment opportunities as the property market begins to show signs of recovery. The firm, which has just agreed a £28.8m takeover of The Advantage Property Income Trust, said the placing would be conducted through an accelerated bookbuild carried out by Oriel Securities.