(Alliance News) - Supermarket Income REIT PLC said Thursday it has raised GBP100 million through an oversubscribed placing and subscription offer, which will go towards the acquisition of new properties.
The supermarket-focused real estate investment trust issued 87.4 million shares in placing, and 10.6 million shares via subscription, at a price of 102.0 pence per share.
Shares in Supermarket Income REIT were down 0.4% at 104.09 pence on Thursday.
Supermarket Income had initially intended to raise GBP50 million, however due to strong support from investors as well as the near term investment pipeline, the trust doubled the target size to GBP100 million.
Following the fundraise, Supermarket Income now has 337.9 million shares issued overall.
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2019 Alliance News Limited. All Rights Reserved.
Supermarket Income (SUPR)