Last checked at 
LONDON (Alliance News) - Pacific Industrial & Logistics REIT PLC started trading on AIM on Wednesday, joined by Bluebird Merchant Ventures Ltd floating on the London Main Market.
Pacific Industrial, which will look to invest in industrial or logistics properties in the UK, raised GBP10.2 million from its float, issuing 10.2 million shares at 100.00 pence apiece. Shares in the company were up 2.5% on Wednesday morning to 102.5 pence.
The company also said on Wednesday it has conditionally agreed to acquire the M1 Portfolio, which consists primarily of properties located around Bardon, Northampton, Bedford and Dunstable in England, near to the M1 Motorway. Pacific Industrial will pay GBP27.0 million to acquire the portfolio.
The portfolio comprises 11 properties offering a total of 465,416 square foot of industrial and warehouse accommodation.
Pacific Industrial also said it has entered into a facility with Santander UK PLC to make available a GBP50.0 million term loan, which will back the acquisition of the M1 Portfolio.
The company was joined in debuting in London on Wednesday by Bluebird Merchant Ventures, a Philippines-focused resource company which owns an interest in a gold project in the Philippines.
Bluebird Merchant Ventures issued 30.3 million shares in its placing at 5.75 pence per share, raising around GBP1.7 million. Its shares were sharply lower on their first day, however, down to 4.5p, off 22%.
"We are very pleased to have successfully concluded the placing and admission of the first resource IPO in London for over eight months. The Philippines is a mineral rich country and we look forward to updating our new shareholders with our progress going forward and any new opportunities which we come across as the year unfolds," said Chief Executive Charles Barclay.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.