Big Yellow has raised more than £100m in a share placing as it looks to expand its self-storage portfolio.
A total of 11,470,212 new ordinary shares were placed, at a price of 945p per share. The placing, with both existing and new investors, raised £108m.
Alongside this, a retail offer of 170,000 shares raised around £1.6m.
The price represented a discount of 2.88% to the last night’s closing price of 973p per share. The newly issued shares represent around 6.3% of the existing issued ordinary share capital of the company, prior to the capital raise.
Blackrock was once again the major buyer, taking 1.6m shares for around £15.1m.
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