Big Yellow raises £100m in share placing

Big Yellow has raised more than £100m in a share placing as it looks to expand its self-storage portfolio. A total of 11,470,212 new ordinary shares were placed, at a price of 945p per share. The placing, with both existing and new investors, raised £108m. Alongside this, a retail offer of 170,000 shares raised around £1.6m. The price represented a discount of 2.88% to the last night’s closing price of 973p per share. The newly issued shares represent around 6.3% of the existing issued ordinary share capital of the company, prior to the capital raise. Blackrock was once again the major buyer, taking 1.6m shares for around £15.1m. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews