30th Sep 2021 10:13
(Alliance News) - Tritax Big Box REIT PLC on Thursday said it has raised GBP300 million in a placing of shares sold at a 5.3% discount to their closing price on Wednesday.
The London-based logistics real estate asset manager placed 147.1 million new shares for 204 pence each, adding that the placing was "significantly oversubscribed".
Shares were down 2.5% at 209.94 pence in London on Thursday morning.
Around 144.5 million new shares will be issued through a placing, while 2.5 million shares will be issued through a retail offer and 38,877 through directors Aubrey Adams and Karen Whitworth, and Susan Laing, wife of director Richard Laing.
Earlier this month, Tritax unveiled plans to increase the size of its placing to GBP213 million from GBP170 million to "account the strength of the manager's near-term investment pipeline".
The FTSE 250 constituent anticipates new shares to start trading on the London Stock Exchange's Main Market on October 4.
"We are delighted with the support of investors for the issue, the proceeds of which will enable us to accelerate our development programme in order to capture the unprecedented levels of demand we are seeing in our sector, and deliver attractive total returns to shareholders," said Chair Aubrey Adams.
By Josie O'Brien; [email protected]
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