Home Reit said it raised significantly more than it anticipated through a discounted share placing that was oversubscribed by investors.
"Given the strong level and quality of demand from investors in the capital raise," the UK real-estate investment trust said it raised £263mln when it targeted to raise around £150mln.
The company, which finances the acquisition of properties across the UK aimed at providing shelter to the homeless, announced on May 16 that it was to raise around £150mln by placing 130.4mln shares at a 5.7% discount to its latest closing share price.
The proceeds have been earmarked for accommodation for the homeless in the UK.