8th Sep 2014 09:10
LONDON (Alliance News) - Custodian REIT PLC Monday said it was considering plans to launch a further share issue under its placing programme.
The real estate investment trust said it was considering its options on the move due to the level of cash deployed since its initial public offering and the pipeline of current investment opportunities.
It said the offering is expected to be priced at a sufficient premium to its net asset value in order to cover the costs associated with the fundraising and deployment of further funds.
The trust was active in the property market last month. In August alone, Custodian REIT bought 15 St Peter's Gate in Nottingham for GBP1.7 million, a retail warehouse in Milton Keynes for GBP5.7 million, and a manufacturing facility in Doncaster for GBP4.6 million.
Custodian REIT shares were up 0.2% to 110.25 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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