Panmure Liberum acted as Joint Global Co-Ordinator and Joint Bookrunner on a placing and retail offer to raise £50.2m for NewRiver REIT

NewRiver is a leading Real Estate Investment Trust in buying, managing and developing retail assets throughout the UK.

NewRiver separately released an announcement yesterday proposing that NewRiver would acquire the entire issued, and to be issued, ordinary share capital of Capital & Regional plc (the “Proposed Combination”).

The fundraise was undertaken to part fund the cash component of the consideration payable pursuant to the Proposed Combination. Under the terms of the Proposed Combination, for each ordinary share in the capital of Capital & Regional plc, Capital & Regional shareholders would be entitled to receive 0.41946 New Ordinary Shares, 31.25 pence in cash and the Capital & Regional Interim Dividend of 2.85 pence per Capital & Regional Share.

The Joint Global Co-Ordinators and Joint Bookrunners delivered significant and high-quality demand, from both existing holders and non-holders, with the fundraise being heavily oversubscribed.

Panmure Liberum was appointed as Joint Corporate Broker to NewRiver in July 2013.