Aberdeen Standard European Logistics (ASLI) has launched a new share issue, seeking £75 million ($103 million) in gross proceeds at a price of 109 pence [1.501] per new ordinary share.
This represents a discount of 8.4 percent to the closing mid-market share price of 119 pence ($1.6) per share, as of Sept. 7, and a premium of 2.7 percent to its June 30 NAV per share of 106.1 pence ($1.4) per share.
ASLI said existing shareholders can subscribe for one new ordinary share for every four ordinary shares held, as well as further new ordinary shares through the excess application facility.
ASLI believes that continental European logistics real estate is well positioned to continue outperforming other asset classes, offering a compelling investment proposition. The sector is characterized by a critical shortage of class A stock, which has been exacerbated as businesses seek to future-proof their operations in response to changing consumer behavior, a trend that has b
