Tritax Big Box REIT has announced that it is targeting a fundraising of £100m through a placing, open offer and offer for subscription, of new ordinary shares. Tritax says that it expects to use the net proceeds of the issue to acquire further investments. The issue price of 124p per ordinary share represents a discount of 5.8% to the closing price of 131.60p (per existing ordinary share) as at the close of business on 26 January 2016 and a premium of 2.4% to the unaudited estimated Basic Net Asset Value as at 31 December 2015 net of the fourth interim dividend (per existing ordinary share). The company says that the issue is conditional, amongst other things, upon the passing of resolutions at a general meeting, which is scheduled for the 12th February 2016. The company expects to announce the results of the placing on the same day.
Tritax Big Box REIT is targeting a fundraise of a further £100m : BBOX