Supermarket Income REIT has raised £140 mln (€160 mln) in a substantially oversubscribed issue of 136 million new ordinary shares at 103 pence per share.
The firm announced last year that it was to almost double the size of its share issue after receiving ‘a strong level of support’ from investors during the marketing roadshow.
The UK landlord was initially looking to raise £75 mln (€85.6 mln) through the operation.
‘The decision to upsize has been made after careful consideration by the Board and reflects the possibility of acquiring additional assets,’ Supermarket Income REIT said in a statement.
Management at the REIT, which owns a portfolio of nine Tesco, Sainsbury’s and Morrisons supermarket stores, said earlier this month the funds would allow it to purchase two supermarket properties with a value of around £115 mln (€131.3 mln), with a further pipeline of assets having been identified with an approximate value of £180 mln (€205.5 mln).
