20th Jun 2014 07:41
LONDON (Alliance News) - Commercial property investors Tritax Big Box REIT PLC Friday said it plans to raise around GBP150 million through a share placing, open offer, and offer for subscription next month, and transfer its listing from the Specialist Fund Market to a premium listing on the London main market.
The company said it has invested the proceeds of its initial public offering, which raised GBP200 million in November 2013, and of its subsequent GBP20.8 million placing, in a portfolio of six "Big Box" assets let to institutional-grade tenants. ?Big Box? assets are large commercial properties which, when let, tend to command at least GBP35 million.
Tritax said it believes there is a strong pipeline of suitable new investment opportunities and it is in detailed discussions in relation to a number of potential acquisitions.
Tritax Big Box shares were quoted down 3.4% at 105.33 pence Friday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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