DCT Industrial Trust Raises $102M

Industrial real estate investment trust,DCT Industrial Trust, has raised $101.65 million through an initial public offering. The company priced 19 million common shares at a price of $5.35 per share in the offering.

The company has provided its underwriters an option for 30 days to buy up to 2.85 million additional shares of common stock to cover overallotments, raising gross proceeds of $116.9 million.BofA Merrill Lynch,JP MorganandWells Fargo Securitiesacted as the joint book-running managers for the offering.

Click here for the release fromPR Newswire.