18th Jun 2019 11:53
(Alliance News) - Aberdeen Standard European Logistics Income PLC on Tuesday said it intends to raise new capital via a 12-month share issuance programme to take advantage of the growing European logistics market.
The investment company is proposing to publish a prospectus in relation to an initial issue consisting of a placing, open offer and subscription offer. The prospectus is expected to be published in late June or early July.
Aberdeen Standard said its investment manager has a pipeline of attractive investment opportunities available to it and is presently in a period of exclusivity to carry out due diligence in relation to two potential acquisitions which are valued at around EUR60 million in total.
In addition, the investment manager is in advanced talks regarding the acquisition of a further property, the company added.
"Whilst there is no guarantee that the above will lead to purchases of these properties, the Board and the Investment Manager remain confident that the market for European logistics assets will continue to offer many attractive investment opportunities in the near future, and the share issue programme will enable the company to take advantage of its strong pipeline of acquisition opportunities after the initial Issue is concluded," Aberdeen Standard said.
Shares in Aberdeen Standard were trading 0.2% higher at 99.83 pence each on Tuesday morning.
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