They've omitted rent collection though, which is the key metric,...

They've omitted rent collection though, which is the key metric, and their July rent collection (~50%) was the weakest of their competitors which is the concern for me. They have some premium locations, like the aeroville, louvre, and airports which are going to struggle for rent collection as they cater to a premium market.

Also odd they announce this open market, when it's months away from the EGM and the details being ironed out. Is this the norm in Europe? I know here they tend to drop the info at once, e.g. IFL with MLC Cap raise.

Fundamentally this is a good business in the long term (next 5-10 years), but just feel with the circumstances and dilution, it's going to head down. Would have been amazing if they could have sold some assets even at 50% discount, as they are running it such a high discount to NTA per share, rather than an equity raise.