By Ian Walker
Supermarket Income REIT PLC said Thursday that it plans to raise 100 million pounds ($ 134.3 million) through a stock placement and subscription offer, and that the money will go to investments.
The UK property investor said he plans to issue the new ordinary shares at 115 pence each. The issue price is a 4.2% discount to the company’s closing share price of 120.0 pence on Wednesday, but a 6.5% premium to its last EPRA net tangible assets. published per ordinary share at June 30 of 108 pence.
The company said it is also planning a 450 million share placement program that will allow it to raise additional capital over the next year.
Supermarket Income said its investment adviser had identified four assets valued at around £ 180million and seven other assets valued at £ 420million.
“With an attractive pipeline of assets in place, this fundraising will allow the company to continue to execute a number of transactions that meet our investment criteria, building on our solid experience in the deployment of equity in other key omnichannel properties leased to some of the UK’s largest supermarket operators, ”said Chairman Nick Hewson.
Shares at 07:28 GMT were down 3.25 pence, or 2.7%, to 116.75 pence.
Write to Ian Walker at [email protected]