19th Apr 2018 15:05
LONDON (Alliance News) - Tritax Big Box REIT PLC said on Thursday that it raised GBP155.6 million via an oversubscribed share placing to fund its pipeline of potential investments, particularly two specific target assets currently under negotiation.
The real estate investment trust placed 109.4 million ordinary shares - 8% of its existing total - at 142.25 pence per share. Shares in the company were trading 1.0% higher at 145.90 pence on Thursday.
The placing, which had been announced on Wednesday, was conducted via an accelerated bookbuild process. Jefferies International Ltd acted as sole bookrunner in connection with the placing and as joint financial adviser together with Akur Ltd.
"We are delighted to have successfully completed this placing and for the strong support received from new and existing investors. The proceeds raised will enable us to fund specific acquisition opportunities under advanced negotiation alongside several specific asset management initiatives within the existing portfolio. We remain focussed on delivering value to shareholders through our acquisition strategy and by investment in the group's portfolio," said Tritax Partner Colin Godfrey.
Tritax Big Box REIT now has 1.47 billion shares issued overall.
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Tritax Big Box