Intu shares hit historic low as landlord grapples with lower rental income
Its keeping all options open, says the UK mall owner, as it struggles with Brexit uncertainties and online shopping
31 July 2019 - 09:07
Shares in Intu Properties plunged 32.1% to a record low on Wednesday as the UK mall owner said it may ask shareholders for more funding to help it cut debt after earnings fell.
Intu and other JSE-listed, UK-focused landlords, including Capital & Counties Properties, have seen their valuations decline since the country voted to leave the EU in 2016. That event sparked a prolonged period of uncertainty at a time when online retailing was gaining momentum...
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