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LONDON - Growthpoint Properties Limited announced today its intention to sell approximately 47.7 million ordinary shares in NewRiver REIT plc at a price of 75 pence per share through an accelerated bookbuild process.
The proposed secondary placing represents a significant portion of Growthpoint’s current 14.2% stake in NewRiver, equivalent to approximately 67.4 million shares, excluding those held in the Employee Benefit Trust.
NewRiver REIT has indicated plans to repurchase up to approximately 47.7 million of the placed shares, utilizing existing authorities granted at its Annual General Meeting held on July 31, 2025.
Panmure Liberum Limited is acting as the sole bookrunner for the transaction. The placing shares will rank equally with NewRiver’s existing ordinary shares.
The final number of shares to be placed will be determined at the conclusion of the bookbuild process, with results to be announced afterward. The timing for closing the bookbuild remains at the discretion of the bookrunner.
NewRiver will not receive any proceeds from the transaction, as this is a secondary offering by an existing shareholder.
The announcement was made through a regulatory information service and was deemed to constitute inside information under UK market abuse regulations.
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