Supermarket Income REIT PLC disclosed results of its proposed initial issuance of up to 64,356,435 new ordinary shares at 101 pence apiece, adding that it was oversubscribed.
The shopping center landlord determined to issue 64,356,435 new shares from the total submitted applications, which will generate £65 million in gross proceeds. Of the total, 59,846,665 shares will be issued via the planned placing and 4,509,770 shares through the offer for subscription.
Supermarket Income expects the new shares to commence trading on the Specialist Fund Segment of the London Stock Exchange's Main Market for listed securities on May 25, 8 a.m. London time.
After admission to the bourse, the real estate investment trust will have 184,356,434 ordinary shares in issue.
Goodbody and Stifel serve as placing agents for the shares issuance program, while the latter also serves as the sole book runner and financial adviser.
