Tritax Big Box REIT has raised £350m in its share issue, £200m more than it had aimed for.
The logistics company had said its targeted size for the offer was £150m and the maximum size £250m.
But due to the investor demand it will use part of its annual pre-emption disapplication authority to meet the £100m of excess demand on equivalent terms to the placing.
From 11 Oct: Tritax announces £150m share issue
Richard Jewson, non-executive chairman, said: “We are delighted with the strong support that this issue has received from existing shareholders and a wide range of new investors.
“This fundraising will enable the company to build upon its strong position and pursue attractive investment opportunities that are likely to be value accretive to our shareholders over the medium term.”
The proceeds will be used toward further investments.
Tritax recently bought two mega sheds for £115m in October, and an Amazon shed in August for £42.9m.
Oct 11: Tritax nets two Big Boxes
Aug 10: Tritax buys first Amazon shed
