Tritax Big Box REIT has announced the results of its Placing, Open Offer and Offer for Subscription of Ordinary Shares. Investor demand for the issue has significantly exceeded the targeted size of GBP200 million. The Board, after careful consideration with the Manager and in consultation with its Joint Financial Advisers, has exercised its right to increase the size of the Issue to the maximum of GBP350 million.
A total of 257,352,941 Ordinary Shares will be issued at a price of 136 pence per Ordinary Share, of which 100,517,096 Ordinary Shares will be issued pursuant to the Open Offer, 12,075,902 Ordinary Shares will be issued pursuant to the Offer for Subscription and 144,759,943 Ordinary Shares will be issued under the Placing.
The issue was significantly oversubscribed beyond the maximum size of GBP350 million.
Colin Godfrey, Partner of Tritax, commented: “The Company is engaged in discussions with owners of a number of attractive assets and the proceeds from this fundraising will allow the Company to pursue an identified pipeline of opportunities that we believe will be value-accretive to shareholders over the medium term.”
BBOX : Tritax issue raises £350m