Target Healthcare REIT (THRL); proposed issue of equity

Published on 24-10-2018 07:14:41
Author Sparks Team

Target Healthcare REIT proposed to raise £40m through the issuance of 36,697,248 placing shares at 109p/sh, a non-pre-emptive placing under its existing placing programme.

The offer price represents a 4% discount to the closing share price of 113.5p/sh as on 23 October 2018 and a 2.7% premium to the last reported EPRA NAV of 106.1p/sh as of 30 September 2018. The company’s pipeline of £79m consists of £51m of eminent acquisitions and £28m of near-term acquisitions.

Malcolm Naish, Chairman, commented: “These investments will allow us to continue to drive the positive momentum behind the growth of the portfolio, while increasing our exposure to the demographically strong South East market and further diversifying the occupier base with the introduction of new tenants.”

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