Supermarket Income REIT raises issue size to £150mln amid strong investor support

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Supermarket Income REIT PLC (LON:SUPR) said it has decided to increase the target size of the issue up to £150mln.

The move comes after receiving “strong level of support” from potential investors and its investment adviser’s confidence in executing on the pipeline.

READ: Supermarket Income REIT raises funds as it targets four more acquisitions

The real estate investment trust announced earlier this month plans to raise around £100mln by placing shares at 106p each.

The timetable remains unchanged, so retail investors will be able to participate in the fundraising via the PrimaryBid platform. The PrimaryBid offer will close at 11am on March 18 or earlier if it is oversubscribed. There is a minimum subscription of £1,000 per investor.

The funds raised have been earmarked for a number of attractive acquisition opportunities.

The REIT firm its investment adviser has identified four assets with an aggregate value of around £230mln and the company is negotiating to buy these.

Meanwhile, coming down the pipeline are nine more assets with an aggregate value of around £184mln that meet the company’s acquisition criteria.

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