(Alliance News) - Warehouse REIT PLC on Thursday said it plans to secure GBP100 million through an equity raise.
The warehouse investor will issue up to 89.7 million shares at 111.5 pence each, a 6.0% premium to its September 30 net asset value per share of 105.2p.
Shares in the company were 0.5% lower at 112.50p each in London on Thursday afternoon.
Warehouse said: "Tilstone Partners Ltd, the company's investment advisor, continues to see a range of acquisition opportunities which meet the company's investment criteria with an increasing number of vendors approaching TPL either directly or through agents to discuss such opportunities.
"The directors intend to use the net issue proceeds to acquire a diversified portfolio of additional properties in accordance with the company's investment policy. Once fully invested, the issue is expected to be earnings accretive with improved income diversification."
By Eric Cunha; ericcunha@alliancenews.com
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Warehouse Reit (WHR)