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Segro to raise £800m in placing to pursue growth opportunities
(Sharecast News) - Real estate investment trust Segro said on Tuesday that it was planning to raise around £800m in a placing to pursue additional growth opportunities. The proposed placing and retail offer represents around 7.5% of the issued share capital.
"New equity will allow the group to pursue additional growth opportunities, including new and existing development projects and to take advantage of potential acquisition opportunities which may arise, whilst maintaining a strong balance sheet," Segro said.
"The additional capital from this placing and retail offer, together with Segro's land bank in UK and Continental European prime urban and logistics centres, as well as the relatively short build-time for warehouse space, provides flexibility and optionality to accelerate growth in response to occupier demand."
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