Urban Logistics is planning to raise £108m through a share placing and an additional offer to the public through the PrimaryBid platform.
The last-mile logistics firm will offer four million shares to retail investors on PrimaryBid, at 155p per share. This represents a 5.2% discount to yesterday’s (29 June) closing price. Admission is set to take place at 8am on 13 July.
The REIT intends to issue around 69.8m new ordinary shares under the placing and PrimaryBid offer.
The proceeds will be used to fund its investment pipeline, the majority of which is sourced off-market. The net proceeds will be deployed within around three months of receipt of funds.
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