Tritax EuroBox will apply to the Financial Conduct Authority this quarter to request its shares are listed on the premium segment of the London Stock Exchange.
The firm is currently on the specialist fund segment of the LSE.
In a statement this morning (4 February), the company said: “The move to the premium segment is expected to facilitate the company’s eligibility for inclusion in the FTSE UK and the FTSE EPRA NAREIT Index Series.”
The news comes as Tritax EuroBox also confirmed plans to pay dividends on a quarterly basis to its shareholders. It is due to announce the initial interim dividend for the period since it floated on the LSE in July until 31 December 2018 in February.
The firm is targeting a dividend of 4.75 pence per share for the year, which is expected to increase progressively.
In July, Tritax EuroBox raised £300m for its IPO. Since then, it has acquired six assets during the second half of 2018, which are valued at €485.4m.
Nick Preston, fund manager of Tritax EuroBox, said: “The company’s unsecured revolving credit facility, entered into at an attractive cost of debt, is instrumental in providing a flexible source of committed capital to further support our strategy and build the portfolio.
“The continental European logistics market continues to benefit from strong underlying fundamentals underpinned by the growth in e-commerce and occupiers seeking to optimise their supply chains. By leveraging the long-established relationships of Tritax Group and of the company’s asset managers, LCP and Dietz, we continue to see an attractive pipeline of off-market investment opportunities.”
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