Supermarket Income REIT PLC - supermarket property investor - Raises GBP200 million through significantly oversubscribed issue of 173.9 million shares at a price of 115 pence per share.
On Tuesday, the trust increased the fundraise target to GBP200 million from GBP100 million due to the investment manager seeing an "increase in the availability of attractive investment opportunities."
Proceeds from the share issue will go towards making additional investment in line with the trust's investment criteria.
Investment Manager Atrato Capital Ltd identified four assets with an aggregate value of GBP180 million, and a further pipeline of seven assets collectively worth GBP420 million.
"Demand for this issue has been exceptionally strong, resulting in us doubling the size of the capital raise. We are very grateful to our existing and new investors for their continued support," says Chair Nick Hewson.
Supermarket Income REIT now has 984.9 million shares issued overall.
Current stock price: 116.50 pence
Year-to-date change: up 9.4%
By Dayo Laniyan; firstname.lastname@example.org
Copyright 2021 Alliance News Limited. All Rights Reserved.