Yahoo Finance Urban Logistics looks to raise £108m in fundraising where retail investors can participate
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.”
Read More
Urban Logistics sees rental income jump, with warehouses in demand
UK warehouses could still be hot property for investors after a vaccine is found
FTSE 100 set to edge higher as England dares to dream of Euros victory
All-female led CBD firm South West Brands plans float on London’s main market
