Tritax EuroBox has raised £170m through a share placing, with plans to go on a spending spree.
The shares were sold at a 3% discount to the company’s closing price last night of 115p, but a 3.7% premium to its NAV per share as of June.
Tritax expects to use the proceeds of the placing, together with existing resources and debt, to secure a €520m pipeline of prime big boxes in continental Europe. These include two German assets for more than €170m, which are in the final stages of due diligence and six further assets for an aggregate investment of €350m, including zoned development land and forward funding developments.
