Segro’s shareholders have accepted 95.27% of the shares issued in its £500.1m underwritten rights issue.

The industrial REIT offered 5.24bn new shares at 10p each to its shareholders on the basis of 12 new shares for every one held.

Shareholder take up was in line with its rivals; Land Securities gained support from 94.81% of shareholders, British Land sold 96.57% of shares issued, Hammerson sold 98.6%, and Workspace sold the least at 49%.

Merrill Lynch International and UBS Limited, which acted as joint bookrunners, will be selling the remaining 248m shares.

Segro said it expected the new shares to commence trading on the London Stock

Exchange on 7 April 2009.