16th Jul 2026 07:54
(Alliance News) - Supermarket Income REIT PLC said on Wednesday afternoon it had raised GBP100 million as expected after equity issue to pursue acquisitions.
The London-based real estate investment trust offered 120.5 million new shares at 83 pence each, allowing the company to fund the acquisition of the advanced pipeline of nine assets for about GBP216 million.
Supermarket unveiled equity issue plan early on Wednesday, comprising an institutional placing, a placing to selected qualifying investors in South Africa and a conditional retail offer to be made via retail book.
Later that day it announced it had agreed to acquire a portfolio of three supermarkets for GBP118 million. The portfolio includes a Sainsbury's in Manchester, and two Tesco stores - one in Edinburgh and the other in Halifax.
In addition, the company said it had a further pipeline of six grocery assets in the UK let to major grocers, with completion expected in the next three months for GBP98 million.
Supermarket has said it expects the planned deals to be accretive to earnings per share from the first full financial year.
By Artwell Dlamini, Alliance News senior reporter South Africa
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