Segro PLC (LON:SGRO) increased the size of the placing announced late on Tuesday to £680mln from £650mln after high demand from investors.
The FTSE 100 REIT placed 82mln shares at 820p each, a 4.5% discount to Tuesday’s closing price, representing 7.5% of its issued ordinary share capital.
READ: Segro acquires London warehouse park for £202mln
The property owner is looking to accelerate pre-let developments as well as acquisitions of land and investment assets and is eyeing £1bn worth of deals over the next year and a half.
In a separate update, the warehousing firm said new lettings and pre-let development agreements were topping pre-crisis expectations, with £20.9mln of headline rent contracted in the five months to May 31.
It will also declare an interim dividend for the six months to June 30 of 6.9p per share, up from last year’s 6.3p.
Shares dipped 2% to 845p early on Wednesday.
--Adds shares--