Supermarket Income REIT PLC - real estate investment trust dedicated to investing in supermarket property - Intends to raise GBP100 million through a placing and subscription of shares at a price of 115 pence each.
The issue price reflects a 4.2% discount to the trust's closing price on Wednesday at 120p. Proceeds from the share issue will go towards making additional investment in line with the trust's investment criteria.
Investment Manager Atrato Capital Ltd has identified four assets with an aggregate value of GBP180 million, and a further pipeline of seven assets collectively worth GBP420 million.
"With an attractive pipeline of assets in place, this fundraise will enable the company to continue to execute on a number of transactions that meet our investment criteria, building on our strong track record of deploying capital into additional key omnichannel properties let to some of the UK's largest supermarket operators," said Chair Nick Hewson.
Current stock price: 116.50 pence
Year-to-date change: up 9.4%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Supermarket Income (SUPR)