LXi raises £175m with share issue

LXi REIT has raised £175m from a proposed share issue of 155,433,165 ordinary shares at an issue price of 112.75p per share. The new shares are expected to be admitted to trading on the London Stock Exchange on 16 October. The capital raised takes the company’s market cap to £396m since its IPO February last year. Stephen Hubbard, chairman of LXI REIT, said: “The proceeds raised will enable the company to fund in short order its significant identified pipeline of specific acquisition opportunities, many of which are off-market.” To send feedback, e-mail louise.dransfield@egi.co.uk or tweet @DransfieldL or @estatesgazette