6th Nov 2015 11:07
(Correcting amount raised by company in flotation.)
LONDON (Alliance News) - Shares in Regional REIT Ltd rose as they started trading on the London Stock Exchange's Main Market on Friday.
The company's shares were up to 102.00 pence, 2.0% higher than the 100.00p at which the shares were issued.
The group issued a total of 274.2 million shares at at 100.00p a share and conducted an GBP80.0 million private placement with Peel Hunt to on behalf of its shareholders. Its market capitalisation upon admission was GBP274.2 million.
The real estate trust, which announced its plans to float on Tuesday, is seeking to take advantage of the potential in the UK's regional commercial property market. It will focus its investment plans on office and industrial assets in major regional centres and urban areas outside of London.
By Sam Unsted; [email protected]; @SamUAtAlliance
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Related Shares:
Regional Reit