Big Yellow raises £82m with share sale

Big Yellow Group has raised almost £82m from a share sale. The self-storage company announced plans for the deal on 20 March and will use the proceeds to fund land acquisitions. Big Yellow placed the new shares via JP Morgan at 983p each, raising £81.9m. Executive chairman Nicholas Vetch said: “The placing has been successful, and we are grateful to our shareholders for their support. This equity raise allows us to execute the next phase of growth through the continuation of our core strategy.” In a recent trading update the company said it had lost occupancy as a result of the coronavirus lockdown.   To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette