Panmure Liberum acts as Sole Bookrunner in the secondary placing of £50.5m of NewRiver shares
We are pleased to announce that Panmure Liberum acted as Sole Bookrunner for Growthpoint Properties Limited in connection with a £50.5m secondary placing of shares of NewRiver REIT plc, representing its entire c.14.2% interest in the Company.
NewRiver is a leading Real Estate Investment Trust (REIT) specialising in buying, managing and developing retail assets throughout the UK. Every day, NewRiver shopping centres and retail parks provide essential goods and services and support the development of thriving communities across the UK.
Growthpoint, which is the largest South African primary REIT listed on the JSE, inherited a c. 14.2% holding in NewRiver as a result of the acquisition of Capital & Regional Plc, as Growthpoint was the largest shareholder in Capital & Regional at the time of its acquisition. Growthpoint had announced its intention to sell its minority holding in line with its communicated strategy to simplify its business and optimise its international investments.
On 13 August 2025, Panmure Liberum announced the successful completion of the sale of 67.4 million of Growthpoint’s shares in NewRiver (via accelerated bookbuild) at a price of 75 pence per share. Growthpoint have exited its shareholding in NewRiver in full, thus removing any overhang.
As part of the placing, Growthpoint sold 47.7 million shares to NewRiver, under NewRiver’s existing buyback authority. The Buyback by the Company will be accretive to both UFFO and EPRA NTA per share.
The placing was underpinned by strong support from existing shareholders, and certain non-holders.
Panmure Liberum acted as Sole Bookrunner to Growthpoint and has been Joint Corporate Broker to NewRiver since 2013.
Panmure Liberum Team
ExCo – David Parsons
Investment Banking – Jamie Richards, Amrit Mahbubani, Shalin Bhamra, Nikhil Varghese
Corporate Broking - David Watkins, Sam Elder
Sales – Guy Froud, John Mozley
Trading – Adam Howson, Mark O’Hara
Research – Bjorn Zietsman
Legal & Compliance – Rebecca Gordon, Emily Troubridge
