Schroder property trust eyes acquisitions after launching £40m cash call

clock • 1 min read

The top-performing Schroder Real Estate investment trust has launched a £40m cash call to shareholders in order to support a series of acquisitions across the property sector.

The Board of the trust said today it was proposing to issue up to 80 million new shares at 50.25p to raise gross proceeds of up to £40.2m. The company is also proposing a placing programme to fund future acquisitions between this April and next March, it said. The trust said the new shares will only be issued to new and existing shareholders at a premium to the trust's NAV, and will therefore add value to existing shareholders. Duncan Owen, head of property at Schroders, said: "This disciplined approach to growth will enable us to issue new shares at a premium to the prevailing NAV...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week