Aberdeen Standard European Logistics Income announced on Wednesday that it has raised proceeds of £125 mln (€145 mln) through the placing of 115 million new ordinary shares at a issue price of 109.0 pence per share.
With investor demand significantly exceeding £125 mln, a scaling back exercise was undertaken, the company said.
‘The very positive response to the Company's fundraising from both existing shareholders and new investors is a clear endorsement of the strategy and performance of the Trust to date,’ commented chairman Tony Roper.
The company first announced earlier this month that it would seek to raise around £75 mln through the issue of new shares as part of plans to invest further in the European logistics sector.
The operation comes as the company's Investment Manager, Aberdeen Standard Investments (ASI), is currently performing due diligence on a pipeline of mid-box and urban logistics warehouses with a value over €165 mln.
To date the firm has built a diversified portfolio of 16 modern, high quality logistics warehouses, diversified across five countries and 44 tenants, valued at €492.7 mln.
