Tritax EuroBox has raised £213m in a “significantly” oversubscribed share placing.
Due to demand, the board chose to raise the amount from its previous target of £170m. A total of 191,228,355 new ordinary shares will be issued at a price of 111.5p, a slight discount on yesterday’s close of 113.6p.
Tritax said applications for the shares exceeded the higher level.
Chair Robert Orr said: “The increase in the size of the placing reflects our confidence in both the depth and near-term availability of our pipeline of prime big box logistics assets in key locations in continental Europe.”
Fund manager Nick Preston added: “The proceeds of the placing will enable the company to continue its disciplined deployment into attractive assets, diversifying the portfolio, expanding into new geographies and consolidating in existing countries, with an increased focus on higher return assets.”
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