StockMarketWire.com - Regional REIT launched a share issue to raise £50m to take advantage of new property investment opportunities.

New shares in the company would be issued at 106.5p each, representing a 1.8% discount to their closing price on Friday.

Shareholders could participate in an open offer on a one-for-eight basis.

Negotiations were ongoing concerning the acquisition of a geographically-diverse portfolio of six office assets, the company added.

'The board of Regional REIT is delighted to be announcing this fundraise to support the next period of growth for the group,' chairman Kevin McGrath said.

'The investment strategy of the group has returned considerable income returns together with capital growth for shareholders and, together with the asset manager's active property management approach, we look forward to continuing to meet the investment criteria of the company for both existing and new shareholders.'



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