Intu Properties, which was listed out of the late billionaire philanthropist Donald Gordon’s Liberty International in 2010, has reached its darkest hour, after failing to raise more than the £1bn it needs to keep its day-to-day operations on track.
The company, which owns or part-owns 17 UK shopping centres and one in Spain, saw its share price plummet nearly 34% on Wednesday, after it announced it would not go ahead with a planned equity raise due for the end of February.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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