Posted on 03 Oct 2013

Palace Capital Returns

AIM-listed investment company Palace Capital should attract good support when it returns from suspension tomorrow. Backed by property entrepreneur Andrew Perloff and chaired by entrepreneur Stanley Davis, it has acquired a property portfolio from Quintain Estates for £39.25m, with a yield of 13.2pc. It had been valued at £44.2m. Palace has raised £23.5m via a placing with new and existing shareholders.