UK LXi REIT said on Friday that it has raised gross proceeds of £175 mln (€200 mln) in an oversuscribed share issue aimed at funding its acquisition pipeline.
LXi issued over 155 million shares at a price of 112.75 pence apiece, taking its market cap to £396 mln since IPO in February 2017.
Commenting on the announcement, chairman Stephen Hubbard said: 'We are delighted to have successfully completed this £175 million capital raising and for the continued strong support received from existing shareholders and new investors. The proceeds raised will enable the company to fund in short order its significant identified pipeline of specific acquisition opportunities, many of which are off-market.'
