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Qualitas (ASX:QRI) - Co Founder and Managing Director, Andrew Schwartz
Co Founder and Managing Director, Andrew Schwartz
Source: Finance News Network
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  • Qualitas Real Estate Income Fund (QRI) has successfully completed a $54 million placement
  • All up, 33.75 million shares will be issued priced at $1.60 and representing a 0.63 per cent discount to the company’s last trading price of $1.61 on March 29
  • Shares are expected to settle on April 13 and begin trading on the ASX on April 14
  • Qualitas will use the money to undertake further commercial real estate load investments that are in line with its strategy
  • Qualitas has ended the day a slight 0.62 per cent in the green with shares trading at $1.62

Qualitas Real Estate Income Fund (QRI) has successfully completed a $54 million placement.

The real estate investment trust entered a trading halt on March 30 but did not disclose how much it intended to raise or what it would use the funds for.

The funds will be raised through the issue of 33.75 million shares priced at $1.60, representing a slight 0.63 per cent discount to Qualitas’ last closing price of $1.61 on March 29.

Shares are expected to settle on April 13 and begin trading on the ASX on April 14.

Qualitas will use the money to undertake further commercial real estate loan investments that are in line with its strategy.

“We are very pleased with the response we have had to the placement which was oversubscribed,” Co-Founder and Managing Director Andrew Schwartz said.

“Investors are increasingly seeking private debt investments such as QRI which offers attractive risk-adjusted returns where interest rates are at all time lows,” he added.

Qualitas has ended the day a slight 0.62 per cent in the green with shares trading at $1.62 in a $363 million market cap.

QRI by the numbers
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