National Storage REIT Completed $300 Million Institutional Placement

May 06, 2020 12:27 PM AEST
Team Kalkine

National Storage REIT (ASX:NSR) announced the successful completion of a fully underwritten placement of $300 million to institutional and professional investor. Around 191.1 million new stapled securities would be issued at $1.57 per share.

The proceeds from the equity raising would be used for strengthening the balance sheet of the company, refill investment capacity & provide further funding flexibility for continued growth over the next one to two years.

At AEST 12:02 PM, NSR shares are trading at $1.59, down ~6% from the previous close.

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