Brief: Shurgard Launches Capital Increase For Approximately EUR 300 Mln

Shurgard Self Storage

09/11/2023 13:10

Nov 9 (Reuters) - Shurgard Self Storage Ltd  SHUR.BR :
    * SHURGARD LAUNCHES A CAPITAL INCREASE FOR AN AMOUNT OF
APPROXIMATELY EUR 300 MILLION
    * ACCELERATING PORTFOLIO GROWTH VIA BOTH ORGANIC AND M&A
OPPORTUNITIES, WITH TARGETED DELIVERY OF AT LEAST C. 90,000 SQM
PER YEAR AS FROM 2024
    * MANAGEMENT EXPECTS THE CAPITAL RAISE WILL BE EARNINGS
ACCRETIVE
AFTER BEING DEPLOYED
    * SHURGARD HAS REQUESTED THE TRADING OF THE SHURGARD SHARES
TO BE
SUSPENDED UNTIL THE RESULTS OF THE ABB ARE PUBLISHED, WHICH IS
EXPECTED TO BE ON NOVEMBER 10,2023
    * SHURGARD CONFIRMS THE 2023 OUTLOOK AS PUBLISHED IN THE Q3
2023
RESULTS, AS WELL AS ITS MID-TERM GUIDANCE
    * PUBLIC STORAGE GROUP, A REFERENCE SHAREHOLDER OF SHURGARD,
WILL
PARTICIPATE IN THE CAPITAL RAISE PRO-RATA OF ITS CURRENT STAKE
    * CAPITAL RAISE WILL INCREASE THE COMPANY’S FREE-FLOAT, FROM
28.4%
TO UP TO C. 31% (REPRESENTING AN INCREASE OF AROUND 10%)

Source text: shorturl.at/hoxIV
Further company coverage:  SHUR.BR 

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