LONDON (Alliance News) - Warehouse REIT PLC said on Tuesday it plans to raise GBP100 million through the issue of shares, which will go towards making new acquisitions and strengthening its portfolio.
The real estate investment trust will issue up to 97.1 million shares through a placing, subscription and open offer at 103.0 pence per share. The issue price reflects a 2% premium to Warehouse REIT's closing price on Monday at 101.00 pence.
Shares in Warehouse REIT were up 0.9% at 101.92 pence on Tuesday.
Shareholders can take part in the open offer for up to 66.4 million shares on the basis of two new shares for each five existing one held.
http://www.lse.co.uk/sharecast-news-art ... _portfolio
http://www.morningstar.co.uk/uk/news/AN ... ns-(alliss).aspx
Noting that the SP is currently 101.84p, as an existing shareholder and thus entitled to take up the offer, I can't see the point of taking it up at a price of 103p, or am I missing something? (Apart from the fact that I would be saving the trading fee charged by my broker). Surely I can buy more in the open market at or close to the market price of 101.84p.