29th May 2015 09:36
LONDON (Alliance News) - Drum Income Plus REIT PLC and Volta Finance Ltd were admitted to trading on the Main Market of the London Stock Exchange Friday.
Investment company Drum Income Plus said it has raised GBP31.9 million in its initial public offering of 31.9 million shares at a price of 100 pence each.
The company is an income focused real estate fund which is targeting secondary commercial property assets.
"While there has been increased demand for tenants for commercial real estate, there has over recent years been only limited development, resulting in a lack of supply in some sectors. Commercial property occupier markets in our target sectors are therefore buoyant, with a mismatch between supply and demand," said Chairman John Evans in a statement.
"We intend to follow an asset management strategy that will drive rental growth and maximise additional income opportunities, offering investors an attractive blend of income return and capital growth," Evans added.
Volta Finance was also admitted to trading; its shares are currently listed on the Euronext Amsterdam. It is trading at EUR7.4 after admission.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Volta FinDRIP.L