Tritax Big Box REIT plc’s £155.6m equity placing of new ordinary shares

Ashurst advised Jefferies International Limited and Akur Limited in connection with a placing of 109.4 million new ordinary shares in Tritax Big Box REIT plc, the only listed vehicle dedicated to investing in large logistics warehouse assets.

The placing, representing approximately 8% of the company’s existing total issued ordinary share capital, raised gross proceeds of approximately £155.6 million.

Since its initial public offering in 2013, Ashurst has advised Jefferies and Akur on equity fundraisings by Tritax Big Box REIT plc amounting to a total of c. £1.8 billion. The net proceeds of the company’s latest equity raise will be used to fund specific real estate acquisition opportunities in the logistics sector and to undertake several specific asset management initiatives with its existing portfolio.

Ashurst fielded a team of equity capital markets specialists led by corporate (ECM) partner Simon Bullock (picture), assisted by associate Aimee Carroll-Hewitt. Partner Eric Stuart and senior associate Jeffrey Johnson advised on US securities law aspects of the transaction, while regulatory partner Tim Cant advised on regulatory matters.

Involved fees earner: Aimee Carroll-Hewitt – Ashurst; Simon Bullock – Ashurst; Eric Stuart – Ashurst; Jeffrey Johnson – Ashurst; Tim Cant – Ashurst;

Law Firms: Ashurst;

Clients: Jefferies;