Home REIT is planning to raise £150m (€178.7m) to invest in accommodation for homeless people in the UK.

The UK-listed real estate investment trust plans to place new shares at 115p each to raise the capital as part of its existing placing programme.

Lynne Fennah, chair of Home REIT, said the placing would significantly enhance the firm’s capacity to invest in the provision of high-quality accommodation for homeless people across the UK at a time of grave necessity.

“The proceeds will enable us to continue expanding our existing portfolio which is generating inflation-protected income, utilising our strong pipeline of off-market opportunities, and work with our local partners to provide essential long-term support to some of the UK’s most vulnerable people.”

In October 2020, Home REIT raised £240m from an initial public offering as it joined the London Stock Exchange.

In September 2021, the company raised £350m through an open offer, initial placing, offer for subscription, and an intermediaries offer. The company said that the net proceeds of this issue were fully and efficiently deployed by January this year.

The company has a portfolio with a total value of £713.4m.

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