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.
Disclaimer
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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