Home REIT and Gresham House Energy Storage raise funds in oversubscribed placings

Both “significantly oversubscribed”

Kathleen Gallagher
clock • 2 min read
Both trusts had oversubscribed fundraisings
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Both trusts had oversubscribed fundraisings

Two trusts, Home REIT and Gresham House Energy Storage, announced “significantly oversubscribed” fundraisings this morning, 27 May.

Home REIT, which funds the creation of properties dedicated to accommodating homeless people in the UK, raised £263m, far beyond its target of £150m. Despite the increase, investor demand outstripped the maximum placing, which was priced at 115 pence per share. The trust said the proceeds will be deployed into a £300m acquisition pipeline. Scottish Mortgage annual report: Reiterates confidence on Tesla but admits mistake on China Lynne Fennah, chair of the trust commented the oversubscription was a "further endorsement of Home REIT's strategy, purpose and the compelling track re...

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