Supermarket Income REIT PLC (LSE:SUPR) has confirmed it had to undertake a "material scaling back exercise" even after increasing the size of its fundraiser to £300mln from £175mln to meet demand.
In all, the real estate investment trust brought in £306.7mln once the contribution from retail investors was calculated following a parallel offer of stock by the PrimaryBid platform.
“The team's focus is now on deploying the capital efficiently into our pipeline of opportunities,” said chairman Nick Hewson.
“We have £150mln of assets currently in exclusivity and a growing number of additional assets in our pipeline, representing opportunities in aggregate of over £700mln."
The shares were sold for 121p each, a modest discount to the price before the fundraiser.