22nd Nov 2019 16:20
(Alliance News) - Yew Grove REIT PLC on Friday said it intends to place 20 million new shares at EUR0.97 per share to raise EUR19.4 million to fund asset acquisitions.
The stock was untraded at EUR0.98 in London late Friday.
Yew Grove said it has identified eight available properties with a total cost of EUR72 million and net investment yield of 5.0% to 6.0%.
In total, the company has identified an acquisition pipeline with a cost of EUR130 million and believes it can build a EUR300 million to EUR500 million portfolio of high-yielding properties in the medium-term.
By Tom Waite; [email protected]
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