The fund-raising at 100p per share beat the company's initial target to raise £150m, announced on March 8.

Metric expects to be admitted to trading on the LSE on Wednesday (March 24), when it will become a real estate investment trust.

Conditional dealings in Metric's Shares were expected to begin today (March 19) and unconditional dealings on Wednesday under the ticker METP.

CEO Andrew Jones said, 'The strong support we have received from institutional investors, which has resulted in the issue being over-subscribed and exceeding our original target to raise £150m, underlines the compelling investment proposition we consider Metric offers the market at this time.

'We believe that the extensive re-pricing and re-financing pressures in the retail property market will present opportunities for Metric to utilise its occupier-led approach, active asset management strategy and strong retailer, property investor and banking relationships to generate attractive returns for shareholders.

'We also look forward to capitalising upon our status on admission as one of the UK's first new REITs for the benefit of our investors.'

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