19th Mar 2015 09:24
LONDON (Alliance News) - Tritax Big Box REIT PLC on Thursday said it has raised more than planned in its share placing and subscription following strong investor demand.
Tritax said it has raised GBP175 million via the issue of 159.1 million shares at 110 pence per share in the issue. Shares in Tritax were down 0.9% to 111.247 pence on Thursday.
The property investor had originally targeted a fundraising of GBP150,000, but decided to increase the share offer following strong investor demand.
The deal was run by Jefferies International Ltd.
The funds are to be used to invest in further big box assets in the UK, with Tritax currently in negotiations to acquire three additional assets.
"We are delighted by the continued strong support shown by our existing shareholders and welcome a wide range of new investors who have subscribed in the Issue for the first time. The market dynamics of the Big Box asset class remain highly favourable with occupier demand set to stay strong and the supply of new Big Boxes severely constrained," said Chairman Richard Jewson.
By Sam Unsted; [email protected]; @SamUAtAlliance
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