Schroder European Real Estate Investment Trust has announced the successful issue of 12.5m new ordinary shares.
In a stock exchange announcement it said the shares had been bought by Numis Securities and PSG Capital Proprietary at a price of 120p per share, raising gross proceeds of £15m.
The new shares represent approximately 10.3% of the issued ordinary share capital of Schroder European REIT prior to the placing.
Non-executive chairman Sir Julian Berney said: “Schroder European Real Estate Investment Trust is pleased to announce a capital raise of £15m from investors to continue the growth of the company which was listed in December 2015. Together with the existing available cash and the use of moderate leverage, this continues to position the company well.
“Having constructed a portfolio of high-quality real estate in the growth cities of continental Europe, it will enable further deployment into the pipeline of new investment opportunities. This will be accretive to returns and will continue to develop the strategy of delivering an attractive income distribution with potential for long-term income and capital growth.”
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