Land Securities announces that it is in discussions with investors following press speculation that up to £750m could be raised

Land Securities has confirmed it is working on plans for a rights issue.

In a Stock Exchange announcement, the firm said discussions with investors had taken place and added: “Any discussions will be communicated to shareholders through the proper channels at the proper time.”

There was speculation in the weekend press the firm is targeting as much as £750m with the issue tipped to be launched later this week.

Last Thursday, British Land asked investors for £740m while another developer, Hammerson, raised £584m from a discounted rights issue last week.

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