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LONDON (Alliance News) - Warehouse REIT PLC on Friday said it has raised less money than it had planned when it announced a share placing earlier in March.
At the time, Warehouse REIT said it would issue up to 97.1 million new shares at 103 pence each, for up to GBP100 million.
However, it said Friday it has issued 74.3 million new shares at 103p, for GBP76.5 million in total. The stock was 0.2% higher Friday at 103.22p.
Chair Neil Kirton commented: "The support from both new and existing investors for this share issue expands the already high quality share register, whilst being a strong endorsement of the management's strategy to date and ambition to scale the business.
"The funds raised will enable the company to invest in its identified pipeline of near-term opportunities in order to grow the portfolio, as it continues to source compelling UK multi-let warehouse opportunities."
"We are now ideally positioned to capitalise on the underlying drivers supporting the sector's growth, applying our operating model to capture future upside via both rental and capital growth, delivering value for shareholders," Kirton added.
