February 11, 2020 / 11:37 AM / in 13 days

Intu says Link REIT will not participate in cash raise

(Reuters) - Intu Properties (INTUP.L) said on Tuesday Link Real Estate Investment Trust would not participate in helping the British company raise cash, a day after saying it was in talks with the Hong Kong-based firm.

The debt-laden shopping centre operator said on Monday it was in talks with billionaire John Whittaker’s Peel Group, Link Real Estate Investment Trust and others to raise funds to shore up its balance sheet.

Shares of the company extended losses to be at session lows following the announcement. They were last down 11.1% at 15.4 pence by 1102 GMT.

Reporting by Samantha Machado in Bengaluru; Editing by Saumyadeb Chakrabarty

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