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Urban Logistics looks to raise £108m in fundraising where retail investors can participate

·1-min read
One of Urban Logistics’ existing sites (Urban Logistics)
One of Urban Logistics’ existing sites (Urban Logistics)

Retail investors will have the opportunity to take part in a share placing in the booming UK warehouse sector, through a fundraising by Urban Logistics.

The landlord, which counts Amazon and a number of third-party logistics firms among its tenant base, has seen high demand for space during the pandemic, as many businesses reacted to a surge in online sales.

It now wants to expand and today said it plans to raise £108 million.

The share placing price of 155p represents a 5.2% discount to yesterday’s closing price. It is open to existing and new shareholders, and there are 4 million shares available, totalling £6.2 million, to retail investors using the PrimaryBid platform.

Urban Logistics said: “The company values its retail investor base.”

The AIM-listed firm said there is “a significant pipeline of attractive investment opportunities” that the funding could be used for.

It added: “The urban logistics segment of real estate continues to enjoy strong structural momentum as tenants invest into their logistics real estate footprint, the growth in e-commerce continues, vacancy rates on ready to occupy space remain low and, overall, demand for logistics space outstrips supply.”

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