Another two investment trusts are considering rights issues in an effort to boost their coffers as the commercial property market continues to falter.
Brixton and Segro have both announced their intentions to potentially launch rights issues, with both companies stating they were looking at a range of options to help shore up their balance sheets.
The move would be designed to help secure their investments in commercial property in London and around the country, as the market struggles to shake off the effects of the recession.
The firms’ decisions follow the announcement that commercial property giant Land Securities would launch a rights issue as it seeks to keep its investments in commercial property in London and the UK safe during the global economic downturn.
If the rights issues fail to bring in the necessary cash, it could result in a number of commercial properties in London being sold off as the investment firms try to raise some cash.