ASLI plans to issue £75m in equity to fund further European logistics deals.
The new shares in Aberdeen Standard European Logistics Income will be sold at 109p per share, representing an 8.4% discount to yesterday’s 119p closing share price. It is also a premium of 2.7% against the company’s last unaudited net asset value per share of 106.1p.
ASLI said its investment manager, Aberdeen Standard Investments, is currently performing due diligence on a pipeline of mid-box and urban logistics warehouses with an aggregate value in excess of €165m (£142m).
ASLI plans to issue an additional 250m new ordinary shares over the next 12 months.
Chair Tony Roper said: “As investors recognise the structural tailwinds benefitting the sector, we look forward to the further scale and diversification benefits which this fundraise will afford.”
ASLI’s IPO in December 2017 raised £187.5m, which was subsequently invested in a portfolio of 16 logistics properties in five European countries, valued at €492.7m.
ASI is looking to expand ASLI’s reach into the Nordics.
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