Segro plunges as much as 20 percent on fears it will soon launch a deeply discounted rights issue, as UK's property companies struggle to raise funds in a bid to repair their balance sheet. Segro announced earlier Monday it was in discussions about a possible equity capital raising, amid a property downturn that has already seen larger UK rivals such as Land Securities and British Land launch rights issues totalling billions of pounds. JPMorgan said in a research note on Monday that it estimates Segro would raise 390 million pounds. "On current pricing, raising 390 million pounds at an 80 percent discount would result in a 4-for-1 rights issue with a discount to TERP (theoretical ex-rights price) of around 44 percent on our estimates," JPMorgan analysts said.