Tritax Big Box REIT is looking to raise £150m and has announced a placing, open offer, and offer for subscription of new ordinary shares at a price of 132 pence per share.
The company will use the proceeds towards further investments, and the group is already in discussion regarding a number of potential acquisitions.
The issue price represents a discount of 7.1% to the closing price of 143.6 pence per existing ordinary share as at the close of business on 27 September 2016.
Tritax said proceeds will be used in accordance with the company’s investment criteria, diversifying its portfolio in terms of both tenant exposure and geographical location, and capitalising on the company’s position in the UK big box logistics market.
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