29th Apr 2014 12:46
LONDON (Alliance News) - Green REIT PLC Tuesday said that 72% of shares available in its open offer were taken up.
The real estate investment trust said 192.2 million shares, roughly 72% of the open offer shares it made available it had made available were taken up by existing shareholders.
The company had been looking to raise around EUR400 million by issuing about 357.0 million shares in a placing and open offer at an issue price of EUR1.12 per share, with the proceeds earmarked for further property investments. Of that, it said 89.2 million new shares would be sold through the firm placing, with another 267.7 million earmarked for the open offer.
Green REIT said Tuesday the remaining 75.5 million shares that were not taken up in the open offer have been allocated to the investors with whom they had been conditionally placed.
Shares in the real estate investment trust were up 1.1% at EUR1.22 per share Tuesday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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