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LXI REIT raises gross proceeds of £60M in 2nd share issuance

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LXI REIT raises gross proceeds of £60M in 2nd share issuance

LXI REIT plc raised gross proceeds of £60.2 million following an issue of new ordinary shares of 1 pence apiece, after receiving applications for 58,731,707 shares, priced at 102.5 pence apiece.

The shares were offered in a second issue under a placing program that allows the issuance of ordinary shares up to 200 million until Feb. 5, 2018.

The company has filed for the shares to be admitted to the premium segment of the official list of the U.K. Listing Authority and to trading on the premium segment of the London Stock Exchange plc on Oct 16, subject to an application approval.

Following the latest issuance, the company's issued share capital will consist of 196,881,707 ordinary shares, according to a release.