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Regional REIT completes book build for £100M capital raise

Regional REIT Ltd. closed its book build to raise gross proceeds of up to roughly £100 million through the issue of new shares to finance its recent portfolio acquisition agreements.

The company intends to issue 49,504,950 new ordinary shares in aggregate pursuant to a firm placing and up to 49,504,950 new ordinary shares pursuant to a placing, open offer and offer for subscription. The board may increase the size of the issue by up to 25% in the case of sufficient demand.

The offer price was set at 101 pence per new ordinary share.

The issues are subject to approval at an extraordinary general meeting expected to be held Dec. 19.