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Tritax Big Box REIT to raise £200m

24 April 2017 09:27

Tritax Big Box REIT is seeking to raise £200m through a placing, open offer and subscription to fund further property investment opportunities.

The company said the issue would comprise up to 147,058,823 new shares at 136p apiece - a discount of 6.6% to the closing price of 147.2p on 21 April.

The company said it expected to use the net proceeds to acquire further investments.

And it said its manager, Tritax Management LLP, was engaged in discussions with the owners of a number of attractive investment assets that met the company's investment criteria and were available for potential acquisition in the near term.

The company said the directors considered that these investment opportunities were likely to be value accretive to investors over the medium term.

At 9:27am: (LON:BBOX) Tritax Big Box Reit Plc share price was -7.05p at 140.15p

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