Finance

Triple Point exceeds target with £108m initial raise

By 2018-10-18T08:14:00

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Source: Jane MacNeil

Specialist REIT Triple Point Social Housing has raised gross proceeds of £108.15m from an initial share raise and triggered a second supplementary raise.

Having received subscriptions for 105m shares priced at 103p, exceeding the target issue size of 100m, Triple Point has announced it will increase the size of the issue to 150m shares ahead of deployment on a “strong pipeline” of investments by 31 January 2019.

Chris Phillips, chairman of Triple Point Social Housing REIT, said: “We are pleased with the result of this fundraise against a challenging market backdrop and it has given us the opportunity to expand our shareholder base. We appreciate the continued support of our existing shareholders and welcome our new investors.

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