ASLI is launching a share placing to fund the next stage of its acquisitions drive.
Abrdn’s European logistics income arm said that, following its last £125m oversubscribed equity raise in September, the proposed placing would see shares issued at 110p per ordinary share. The price represents a 1.8% discount on yesterday’s closing share price of 112p.
ASLI has a near-term funding requirement of approximately €142m (£118m).
The company said that, following the purchase of the €227m Madrid last-mile logistics portfolio in December, the portfolio had risen in value to €746m.
ASLI’s investment manager is currently in exclusivity on four assets, with an aggregate value of approximately €49m, located in France and the Netherlands.
Evert Castelein, investment manager at Abrdn, said: “In 2021, we deployed €274m of capital into 10 high-quality logistics assets, nine of which were last-mile logistics warehouses, the sub sector which we believe offers the strongest rental growth potential. This placing will help fund the next stage of the company’s growth and we are confident of providing shareholders with the continued strong performance achieved to date.”
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