Sept 2 Segro Plc, Britain's largest
listed industrial property developer, said on Friday it would
raise 340 million pounds ($451 million) to fund development
projects by placing new shares.
Segro, which operates mainly in the UK, France, Germany and
Poland, said that Britain's vote to leave the European Union in
June had not yet had a material impact on its operating
The company, whose property portfolio was worth 5.7 billion
pounds at the end of 2015, would place 74.8 million shares, or
9.9 percent of its issued share capital at a price of 10 pence
each, to fund an identified pipeline of mainly pre-let
developments, it said.
Segro's chief executive David Sleath told Reuters in
February that the company expected to nearly double its
development budget this year to 300 million pounds, as a shift
towards e-retailing across Europe boosts demand for logistics
warehouses. He reiterated this view following the Brexit vote.
($1 = 0.7532 pounds)
(Reporting by Noor Zainab Hussain in Bengaluru; Editing by