Warehouse REIT said on Monday that it will issue 139 million new shares at a price of 110 pence each as part of a capital increase first announced in March.
The company, which is raising a total of £153 mln (€170 mln) through the operation, said the equity raise was strongly oversubscribed.
‘The result of this equity raise, ahead of our original £100 mln March target, is a strong endorsement of our strategy,’ said Neil Kirton, chairman of Warehouse REIT.
‘Demand for warehouse space in strong locations across the UK shows little sign of slowing down, and our focus now is to execute on our near-term pipeline of accretive acquisitions with firepower well in excess of £200 mln.’
