(Alliance News) - Supermarket Income REIT PLC on Wednesday said it has decided to raise its placing and subscription offer target size to GBP100 million.
The retail-focused real estate investment trust announced plans to raise GBP50 million through a placing back in September, intending to issue up to 49.0 million shares at 102 pence each.
Shares in Supermarket Income closed down 0.5% at 104.00p in London on Wednesday, a 2.0% premium to the placing price.
The goal was to use the funds to fund property acquisitions.
Now, given the "strong level of support from investors during the marketing roadshow as well as the near term investment pipeline", Supermarket Income has opted to double the target size to GBP100 million.
The deadline for the placing has been maintained at 1300 BST Wednesday, meaning it has already passed, with results to be published on Thursday.
By Anna Farley; annafarley@alliancenews.com
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Supermarket Income (SUPR)