Green REIT plans €400m share issue

Green REIT plc has just announced that it plans to capitalise on value in the commercial property market by raising €400 million to purchase suitable investments.

The trust will issue almost 360 million new shares at a price of €1.12.

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The issue price reflects a 5.5 per cent discount to its closing price on April 3rd.

“We have now successfully deployed €335 million of equity and debt over a nine month period – consistent with our stated strategy,” said chairman Gary Kennedy. “Our objective now is to raise additional capital to grow the size of our portfolio, enhance our income stream and drive shareholder returns.”