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The real estate investment trust will seek to raise the funds through a placing, open offer and subscription to convertible, non-voting preference C Shares at a price of
Under the offer, eligible shareholders will be allowed to subscribe to 133.3 million shares on a pro rata basis. For every three ordinary shares held, shareholders will be able to purchase two C shares.
The C shares will have a right to participate in a fixed 3% dividend up to the point of conversion. Admission is expected on March 27.
Earlier in March, Triple Point Social Housing said that - after its most recent property investments - it had invested
Triple Point Social Housing raised
Earlier in February, Triple Point Social Housing invested
On Wednesday, Triple Point Social Housing said it still had a potential pipeline of investments valued in excess of
The property company also added it considered it in the "best interests" of shareholders to migrate the firm to the premium segment of the official list of the
As a result, Triple Point Social Housing will seek to enter the main market of the London Stock Exchange on the same day as admission of the C shares is expected. The company emphasised, however, the placing and migration are independent and not conditional on one another.
Shares in Triple Point Social Housing were 0.6% lower at
