Secure Income REIT said on Tuesday that its recent secondary share placing was oversubscribed, raising more than £280 mln (€357 mln).
Secure Income REIT said on Tuesday that its recent secondary share placing was oversubscribed, raising more than £280 mln (€357 mln).
The placing, which was first announced at the beginning of March, involved 110 million shares representing 61.4% of the company's issued share capital. The securities were placed at a price of 255 pence per ordinary share.
'The success of the placing is testament to the appeal of Secure Income REIT as an investment which offers a progressive dividend to shareholders derived from income generated by a portfolio of high quality real estate assets let on long leases, and managed by a fully aligned manager in Prestbury,' commented Martin Moore, the company's chairman.
He added: 'We expect our broader base of institutional shareholders will provide improved flexibility as we begin to put into action the Board’s ambitious plans for growth by targeting significant value accretive acquisition opportunities.'
