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Urban Logistics REIT raises £108.3m

Urban Logistics REIT has raised £108.3m in an equity raise.

The group said the placing was materially oversubscribed above the £108m target and a scaling back exercise was carried out. A total of 65,870,766 placing shares (£102.1m) in the company have been conditionally placed at an issue price of 155 pence per share.

Additionally, a total of 4,000,000 PrimaryBid shares (£6.2m) have been conditionally placed by PrimaryBid. The company said 116 existing and 395 new retail shareholders invested via PrimaryBid.

Nigel Rich CBE, chairman, said: “The urban logistics sector continues to benefit from long term structural momentum created by the growth in e-commerce. This significant injection of capital will enable the Company to continue its growth and capture a pipeline of attractive assets. We look forward to updating shareholders further on these acquisitions in due course.”

SHED : Urban Logistics REIT raises £108.3m

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