19th Jun 2020 11:58
(Alliance News) - Warehouse REIT PLC on Friday said it has increased the size of its firm placing to GBP100 million from GBP75 million due to strong demand.
The stock was trading up 0.3% at 111.54 pence each on Friday morning in London, giving it a market capitalisation of 268.7 million.
On Thursday, the urban and industrial warehouses investor proposed a GBP175.0 million fundraise through the issue of 159.1 million shares at 110.0 pence. The fundraise comprises a firm placing of up to 68.2 million shares totalling GBP75 million, and a placing of up to 90.9 million shares also at 110 pence each.
On Friday, Warehouse REIT said 90.1 million shares have been conditionally placed, adding that it has increased the size of the firm placing to GBP100 million from GBP75 million due to strong demand.
The London-based company also plans to raise an additional GBP100 million in the placing, open offer and subscription offer.
Peel Hunt and RBC Capital Markets are acting as joint bookrunners in connection to the placing.
By Ife Taiwo; [email protected].
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