Tritax EuroBox has raised its £300m target for its London Stock Exchange IPO.
The company said that it had been “significantly oversubscribed” and that a scaling-back process had been undertaken from the applications received.
It expects to issue the shares at a price of 100 pence per ordinary share. The euro equivalent has been fixed at 113.11 cents per ordinary share.
An application has now been made for the ordinary shares to be admitted to trading on the specialist fund segment of the main market of the LSE.
Trading is expected to commence at 8am on 9 July 2018. The shares will trade under tickers EBOX in respect of shares traded in sterling and BOXE for the euro trading shares.
The net proceeds from the share placing will be used to acquire a portfolio of well-located continental European logistics assets.
Robert Orr, chairman of Tritax EuroBox, said: “We have a strong, identified pipeline of high-quality, large- scale logistics assets let to institutional-grade tenants and we will now work towards deployment of the net proceeds, providing our new shareholders with secure income and an attractive capital return.”
Nick Preston, fund manager of Tritax EuroBox, added: “The success of the issue is a strong endorsement of the manager’s track record and experience, placing us in an ideal position to capitalise on the significant investment opportunity that exists in the continental European logistics real estate market.”
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