12th Sep 2018 16:08
LONDON (Alliance News) - Self-storage company Big Yellow Group PLC said Wednesday that it has placed 7.2 million shares at 930 pence each pursuant to a previously announced GBP67 million fundraising.
The placing price represents a discount of 1.8% to the closing price on Tuesday. Shares in the company were trading 1.3% higher at 959.50p each on Wednesday afternoon.
"The proceeds will be used to acquire new development sites, in attractive locations that will allow the company to continue to deliver earnings growth whilst maintaining a strong capital structure," said Executive Chairman Nicholas Vetch.
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