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Hibernia REIT To Raise EUR365.0 Million Through Share Placing

Fri, 6th Dec 2013 09:50

LONDON (Alliance News) - Hibernia REIT PLC Friday said it raised EUR365.0 million following a placing of around 361.4 million shares.

Last month, the newly incorporated Irish property investment company said it plans to list on the London Stock Exchange, as well as the Irish Stock Exchange, with the intention of raising around EUR350 million through a share placing.

Hibernia said Friday on admission the market capitalisation of the company will be EUR365 million - at the issue price. The company will also elect to become an Irish REIT on admission.

REITs are quoted companies that own or operate commercial property. They are not taxed on the rental income as long as they pay 90% of it to their shareholders as a dividend.

Conditional dealings were set o commence on the Irish Stock Exchange and the London Stock Exchange at the open Friday.

By Anthony Tshibangu;; @AnthonyAllNews

Copyright 2013 Alliance News Limited. All Rights Reserved.

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