LXi REIT plc Share Offer
This offer is now closed for applications through interactive investor
Result of Subsequent Issue
The Issue Price was set at 142 pence per new Ordinary Share.
LXI REIT plc (LXI) has successfully raised gross proceeds of £250 million, through its Subsequent Issue.
Investor demand for the Issue has significantly exceeded the maximum size of £250 million. Applications received under the Excess Application Facility, Placing, Offer for Subscription and Intermediaries Offer have been scaled back.
Applications have been made for 176,056,338 New Ordinary Shares to be admitted to trading on the London Stock Exchange's main market.
Customers will receive approximately 82% of the amount applied for rounded down to the nearest whole share.
Share allocations and uninvested cash are being credited today (Thursday 10 February 2022). Confirmation of allocations will be sent once the shares and refunds are showing on accounts.
Please note the allocation policy was set by LXI and not Interactive Investor.
Offer period
- The Offer Period for the LXI REIT plc Share Offer closed at 1pm on Wednesday 9 February 2022.
Trading starts
- Admission and unconditional dealing in the new Ordinary Shares is expected to commence at 8am on Monday 14 February 2021. There is no conditional dealing period.
- When admitted to trading, the new Ordinary Shares will be registered with SEDOL (Stock Exchange Daily Official List) number BYQ46T4 and trade under the symbol "LXI".
- If you buy or sell LXI REIT plc Shares after admission the relevant share dealing rate will apply.
Stephen Hubbard, Chairman of LXi REIT plc, said:
"We have seen exceptionally strong investor demand for our issue, and together with the strength of our nearer term pipeline of over £350 million of accretive investment opportunities and the Investment Advisor's track record of rapid deployment, we chose to double the size of our capital raise to £250 million. We are very grateful for the continued support from our existing and new investors.
"The Company's strategy continues to be implemented successfully and we expect our secure, long-let index-linked portfolio to continue to perform strongly, benefiting from further growth, diversification and outperformance from predominantly off-market investments and forward funding opportunities, and to deliver further attractive inflation-protected income returns and capital growth for our shareholders."
Key information
| Issue price per share: | 142 pence |
| Minimum investment: | £1,000 (multiples of £1 thereafter) |
| Stock ticker: | LXI |
| SEDOL: | BYQ46T4 |
Expected timetable
| Offer open: | 20 January 2022 |
| Offer close: | 9 February 2022 (1pm) |
| Result announced: | 10 February 2022 |
| Unconditional dealing starts: | 14 February 2022 (8am) |
This website is issued by, and is the sole responsibility of, Interactive Investor Services Limited. This website is an advertisement and not a Prospectus. Any application to participate in the Offer can and will only be made on the basis of the Prospectus, together with any supplements thereto.
Interactive Investor Services Limited uses the LXI REIT plc Prospectus in accordance with the Company's consent and the conditions set out in the LXI REIT plc Prospectus.
Investing in IPOs carries a high degree of risk. If you are unsure of the suitability of an investment please seek Financial Advice. You are not guaranteed to make a profit, the value of your investments can go down as well as up. You may not get back all the money you invest. Any notification of an IPO on our website is not an endorsement of the issue, nor is it solicitation for interest in the issue. Investment in the Company should not be regarded as short-term in nature. You should consider carefully all of the information set out in the Offer documents, including all the risks attached to investing in the Company before you apply.
"LXi REIT plc" and the LXi REIT plc logo are registered trademarks of LXi REIT plc. Reproduced by kind permission of LXi REIT plc. All rights reserved.
This announcement has been published by Interactive Investor Services Limited.
This announcement has been prepared and is the sole responsibility of Interactive Investor Services Limited of 201 Deansgate, Manchester, M3 3NW, which is an authorised person for the purposes of the Financial Services and Markets Act 2000.