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LXi REIT to raise £75 million via equity pacing
StockMarketWire.com
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Long income real estate company LXi REIT detailed plans to raise gross proceeds of approximately £75 million through the placing of shares at a discount.
The company proposed to place 60,164,539 shares at an issue price of 124.50 pence per share, representing a discount of 3% to the closing price of 128.4 pence per share on 15 February.
The placing was conditional on the passing of the shareholder resolutions to be proposed at a general meeting of the company expected to take place on or around 10 March 2021, the company said.
The proceeds would be used to acquire £140 million pipeline of off market investment opportunities.
'The pipeline assets, which total around £140 million including expected costs, are diversified across a range of defensive and structurally supported sub-sectors, including foodstores, industrial, drive-thru coffee and garden centres,' the company said.
Story provided by StockMarketWire.com
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