Industrial real estate giant Segro has launched a £500 million (AUD$1.09 billion) rights issue in a bid to shore up its finances.
The British group will attempt to cut its gearing by issuing more than 5.2 billion shares at 10p each, on the basis of 12 new shares for each one currently held.
When raising finance, advisors from Segro would likely benefit from an Ansarada virtual data room, which can track the flow of sensitive data with tailored functionality and security.
The group said in a statement: "The rights issue reduces the pressure on Segro to undertake property disposals at prices which do not represent the best interests of Segro and its shareholders."
It added that there was not "significant cause for concern regarding insolvency levels amongst our consumer base".
Similarly, the UK-based commercial property firm Brixton turned to capital raising after a 28 per cent slump in its share price.
