Shurgard to raise up to €575m from IPO
Shurgard Self Storage is aiming to raise up to €575m (£511m) from a stock market listing in Brussels.
The company said the offering would be made through a private placement of between 20.5m and 25m shares, valuing it at €2-€2.4bn (£1.8-£2.1bn).
The offer period will run until 11 October, with the final offer price set on 12 October.
Shurgard Self Storage is aiming to raise up to €575m (£511m) from a stock market listing in Brussels.
The company said the offering would be made through a private placement of between 20.5m and 25m shares, valuing it at €2-€2.4bn (£1.8-£2.1bn).
The offer period will run until 11 October, with the final offer price set on 12 October.
The listing is provisionally scheduled for 15 October.
Marc Oursin, chief executive of Shurgard, said: “Growth is our strategy. Senior management regularly monitors our existing markets for growth opportunities.
“We have a track record of developing new stores and integrating acquired stores. We believe this experience will enable continued growth from our leading position and will provide us with a unique opportunity to drive further consolidation in the markets where we operate.
“Our focus is on strengthening our position in attractive urban areas, in particular London, Paris and Berlin, which aligns our growth strategy with our existing stable centralized operating model.
“This will allow us to leverage existing operations when adding new stores to the network.”
BNP Paribas, JP Morgan Securities and Société Géneralé are joint global coordinators and bookrunners, with HSBC Bank and Kempen & Co also joint bookrunners.
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