Intu Properties to raise 500 mln pounds in rights issue

(Adds bank details)

LONDON, March 20 (Reuters) - UK shopping centre owner Intu Properties INTUP.L on Thursday said it aimed to raise 500 million pounds ($831.4 million) through a rights issue to help fund the acquisition of two shopping centres and a retail park.

Intu is issuing two new shares for every seven existing shares, at 180 pence each. That represents a discount of 42.5 percent to the closing price of 313.2 pence on March 19.

The company is buying the retail centres from Westfield

WRT.AX . One of the shopping centres, Merry Hill, is part-owned by Australian asset manager QIC QINVES.UL , which has a 50 percent stake.

Merrill Lynch International BAC.N , UBS UBSN.VX and HSBC

are acting as joint bookrunners. Intu did not name the underwriter.

($1 = 0.6014 British Pounds)

(Reporting By Freya Berry; Editing by Erica Billingham)

((freya.berry@thomsonreuters.com)(+44207 5420214)(Reuters Messaging: freya.berry.thomsonreuters.com@reuters.net))

Keywords: INTU PROP NEWISSUE/ACQUISITIONS