Liberum acts as Nominated Adviser and Joint Bookrunner on a fundraising for YEW Grove REIT plc
We are pleased to announce that Liberum acted as Nominated Adviser and Joint Bookrunner on a fundraising for YEW Grove REIT plc (“YEW Grove” or the “Company”). The Company raised gross proceeds of €12.7 million through a Placing and Subscription to execute on a part of its immediate acquisition pipeline.
YEW Grove, which owns a diversified portfolio of Irish commercial property assets, raised €12.5 million through a placing of 13,192,631 new ordinary shares at a price of €0.95 per share. Alongside the placing, members of the Board subscribed for 157,369 new ordinary shares, amounting to approximately €150,000.
The proceeds of the fundraise will be used by the Company to execute on a part of its near term acquisition pipeline.
The increase in capital, together with acquisitions of good quality income-generating assets, should enable the Company to benefit from operating leverage, improve shareholder liquidity and drive returns. The placing represents the first Tranche of the Company’s Share Issuance Programme, approved by shareholders in May 2020.
Liberum acted as Joint Bookrunner alongside Goodbody. Liberum has been Nominated Adviser and Joint Corporate Broker to YEW Grove since January 2020.
Investment Banking – Richard Crawley, Jamie Richards, Ed Phillips, Chris Whitaker, Ant Schia
Sales – John Mozley, Julian Collett
Research – Chris Spearing
General Counsel – Rebecca Gordon, Alice Foster
CIR – Natalie Clarke