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NewRiver in the press

Dow Jones: NewRiver REIT to Raise Not Less Than GBP200 Million

Dow Jones

15 June 2017

Olga Cotaga

NewRiver REIT PLC (NRR.LN) said Thursday it is planning to raise 200 million pounds ($255.2 million) in a share placing.

 

The shares will be placed at a price in the range of 330 pence and 340 pence, the company said. The company's shares closed at 360.75 pence on Wednesday.

 

The company will use the money to fund the acquisition of a stake in its BRAVO joint ventures it doesn't already own and to finance the construction of more convenience stores as well as the development of its Canvey Island retail park, it said.