Aew Uk Reit Share Discussion Threads

[rcturner2] 26/2/2020 08:04

I think certain types of fund raising like an open offer require an EGM so are much more expensive and time consuming.

[cwa1] 26/2/2020 07:59

Open offer likely to be more expensive and time consuming and, coming in the middle of the current market panic, might not have been as well supported as it could have been otherwise.

[chucko1] 26/2/2020 07:59

And yet RGL were able to get size done at 106.5p with a 110p NAV and 111p share price Messed up the share price for a few weeks, but look at it now. A rock, even in this market.

[neilyb675] 26/2/2020 07:57

A open offer or rights issue would have been a far better option imo, and be well supported.

[solarno lopez] 26/2/2020 07:43

Thanks Jonwig

[jonwig] 26/2/2020 07:39

The placing failed because there was no open space between the NAV (97.24p), the asking price (97p) and the current share price (96-98p).

The only viable situation is when you've got a share price well above a NAV and you can slot the asking price between the two.

[solarno lopez] 26/2/2020 07:26

The Company is seeking to raise up to GBP20 million via a placing

That's the telling bit from their previous announcement !

[tournesol] 26/2/2020 07:23

£7 million?

I'm really surprised.

Not pretending to have any expertise in this sector but that seems extraordinarily small scale. Suggests they struggled to find anybody interested. Is that because of the Corona Virus? Would it have been better to pull the plug? Is it really cost effective to do such a small scale placing?

Is this telling me to sell?

Or does it presage price weakness that will provide a good buying opportunity?

[ramellous] 26/2/2020 07:20

I wasn’t asked if I wanted to take part in the placing. Was this just for institutions

[speedsgh] 26/2/2020 07:12

They've managed to raise just £7m. They were looking to raise up to £20m. They've got to be disappointed with that...

Result of Placing under Placing Programme -

Further to the announcement made by the Company on 19 February 2020, the Company today announces that it has successfully raised gross proceeds of £7 million pursuant to the Placing under its Placing Programme which expires on 28 February 2020.

[lord gnome] 19/2/2020 07:42

That explains the price weakness from 100p. The shares have been pre-sold, thus allowing anyone buying at 97p to sell in the market at anything above the placing price. Money for nothing. The share price will soon recover back over 100.

[skyship] 19/2/2020 07:15

PLACING - see Header.

Total of £20m seems far lower than intimated; whilst the price of 97p perhaps slightly higher.

[2wild] 17/2/2020 11:13

Picked up a few at 95.671p, having sold some at 99.15 only last Monday. With an 8.36% yield, 9.11% on 100% covered basis, whats not to like

[chucko1] 14/2/2020 16:34

Yup, just bought at 96.46 (the bid was 96.76 at the time, so I asked myself why not? May well go lower - clearly there is supply about to come. Clearly there will also be further opportunities.

[hugepants] 14/2/2020 16:19

can purchase at below NAV again

[skinny] 08/2/2020 10:14

Sounds like a plan! :-)

[skyship] 08/2/2020 09:34

playful - thnx for that

One take from that is that they are looking to grow their equity base with a £50-£100m issue, which will be allocated to more Industrial/Office/Specialist investments - mainly Industrial.

The potential overhang suggests a hold rather than a buy at this level of 99p.

Come on Alex - do the right thing and just take out AEWL @ 85p/share. A good deal all round.

[playful] 07/2/2020 18:02

Our Alex....

[skinny] 27/1/2020 10:17

Managed a few more @96.92 earlier.

[skyship] 24/1/2020 14:10

nick - thnx for that. Herewith the correct link:

[nickrl] 24/1/2020 13:00

Article from AEWU managers about potential share raise and expansion into retail

hxxps://citywire.co.uk/investment-trust-insider/news/aew-uk-eyes-share-issue-to-fund-move-into-cheap-retail-property/a1315482?ea=1467379&;utm_source=BulkEmail_Investment+Trust+Insider+Daily&utm_medium=BulkEmail_Investment+Trust+Insider+Daily&utm_campaign=BulkEmail_Investment+Trust+Insider+Daily_n10_CONS

[chucko1] 23/1/2020 09:45

So a two stock portfolio could be NRR and AEWU. Retail property getting cheaper benefits AEWU and may pressure NRR. 9.75% blended yield for your troubles.

Of course, more than two stocks is better, but if you’re just starting out ...

[shieldbug] 23/1/2020 09:26

Investment Trust Insider reporting that AEWU looking "to snap up cheap retail properties and change their use to benefit of the portfolio"

[spectoacc] 17/1/2020 18:57

Still confounding me. Looks like (most) comm prop co's have had a permanent re-rating post-GE. AEWU, WHR, RGL and more. AEWL still the stand-out laggard in my view, but I would say that.

Be interesting to see what sort of premium some of them can get fundraisings away at, and what that will do to the market - more money chasing up valuations even further.

[bg23] 17/1/2020 09:45

they and others normally try to raise at an NAV accretive level. so +97.24 pre the announced dividend presumably.
might be poor form to pay the div on newly issued shares so perhaps issue share at circa 96 ex div??