CMS advises on Supermarket Income REIT plc’s £300m placing

International law firm CMS has advised Stifel Nicolaus Europe Limited who acted as Sole Sponsor, Financial Adviser, Global Coordinator and Bookrunner in connection with Supermarket Income REIT plc’s (SUPR) successful placing pursuant to its placing programme, raising £300m of equity capital. SUPR also raised a further £6.7m pursuant to a retail offer arranged by PrimaryBid. 

SUPR initially sought to raise £175m but owing to extremely strong levels of support, a strong pipeline of assets and an increase in availability of attractive investment opportunities, the placing was increased to £300m. 

It is expected that admission of the new ordinary shares to the premium listing segment (closed-ended investment funds) of the Official List of the FCA and to trading on the premium segment of the London Stock Exchange’s main market for listed securities will become effective at 8 a.m. on 29 April 2022. 

This fundraising follows SUPR’s successful migration from the specialist fund segment of the London Stock Exchange onto the premium listing segment of the Official List of the FCA earlier this year.
 
The CMS team was led by Corporate partner Charles Howarth and included US Counsel David Rivera, senior associates Kate Darracott and Jennifer Gray and associate Yee Rouh Quah.