Urban Logistics REIT plc Share Offer
This offer is now closed for applications through interactive investor
Result of Oversubscribed Issue
The Issue Price was set at 170 pence per Ordinary Share.
Urban Logistics REIT plc (SHED) has successfully raised gross proceeds of £250 million, through its Initial Placing, Offer for Subscription and Intermediaries Offer.
Investor demand significantly exceeded the maximum size of £250 million and a scaling back exercise has been undertaken.
Application has been made for 471,975,411 Ordinary Shares, comprising the Company's entire issued share capital and the 147,058,824 New Ordinary Shares, to be admitted to trading on the London Stock Exchange's Main Market.
Customers will receive approximately 86.5% of the amount applied for rounded down to the nearest whole share.
Share allocations and uninvested cash are being credited today (Friday 3 December 2021). Confirmation of allocations will be sent once the shares and refunds are showing on accounts.
Please note the allocation policy was set by SHED and not Interactive Investor.
Offer period
- The Offer Period for the Urban Logistics REIT plc Share Offer closed at 9am on Thursday 2 December 2021.
Trading starts
- Admission and unconditional dealing in the new Ordinary Shares is expected to commence at 8am on Tuesday 7 December 2021. There is no conditional dealing period.
- When admitted to trading, the new Shares will be registered with SEDOL (Stock Exchange Daily Official List) number BYV8MN7 and trade under the symbol "SHED".
- If you buy or sell Urban Logistics REIT plc Shares after admission the relevant share dealing rate will apply.
Richard Moffitt, Chief Executive, commented:
"As tenants look to secure long-term supply chain infrastructure, the "last mile" or "last touch" sector continues to feature as a key and growing part of occupational demand. With 93 properties in strategic logistics locations in the portfolio and with an attractive pipeline that we can now execute, Urban Logistics has strengthened its market-leading position in this important segment of the market. The amount of capital that we have raised reflects our disciplined approach to date and we look forward to updating investors on our progress with new acquisitions and our ongoing asset management initiatives in due course."
Nigel Rich CBE, Independent Non-Executive Chairman, said:
"Urban Logistics remains the only London listed REIT with a pure focus on last mile / last touch logistics properties. This £250 million Issue is a further endorsement of this strategy and we are extremely grateful to both our existing and new shareholders for their support in this capital raise. With our move to the London Stock Exchange's Main Market completing imminently we look forward to entering the next exciting chapter in the Company's development."
Key information
| Issue price per share: | 170 pence |
| Minimum investment: | £1,000 (multiples of £1 thereafter) |
| Stock ticker: | SHED |
| SEDOL: | BYV8MN7 |
Expected timetable
| Offer open: | 15 November 2021 |
| Offer close: | 2 December 2021 (9am) |
| Result announced: | 3 December 2021 |
| Unconditional dealing starts: | 7 December 2021 (8am) |
This website is issued by, and is the sole responsibility of, Interactive Investor Services Limited. This website is an advertisement and not a Prospectus. Any application to participate in the Offer can and will only be made on the basis of the Prospectus, together with any supplements thereto.
Interactive Investor Services Limited uses the Urban Logistics REIT plc Prospectus in accordance with the Company's consent and the conditions set out in the Urban Logistics REIT plc Prospectus.
Investing in IPOs carries a high degree of risk. If you are unsure of the suitability of an investment please seek Financial Advice. You are not guaranteed to make a profit, the value of your investments can go down as well as up. You may not get back all the money you invest. Any notification of an IPO on our website is not an endorsement of the issue, nor is it solicitation for interest in the issue. Investment in the Company should not be regarded as short-term in nature. You should consider carefully all of the information set out in the Offer documents, including all the risks attached to investing in the Company before you apply.
"Urban Logistics REIT plc" and the Urban Logistics REIT plc logo are reproduced by kind permission of Urban Logistics REIT plc. All rights reserved.
This announcement has been published by Interactive Investor Services Limited.
This announcement has been prepared and is the sole responsibility of Interactive Investor Services Limited of 201 Deansgate, Manchester, M3 3NW, which is an authorised person for the purposes of the Financial Services and Markets Act 2000.