Global industrial property company Prologis has announced plans to sell 31 million ordinary shares in a $1.3 bn (€1 bn) public offering.
Global industrial property company Prologis has announced plans to sell 31 million ordinary shares in a $1.3 bn (€1 bn) public offering.
The proceeds will be used for potential acquisitions, investment ventures and paying down debt.
Prologis has priced the offering at $41.6 per share.
The company has granted the underwriters a 30-day option to purchase up to an additional 4.6 million shares of its common stock to cover over-allotments.
Morgan Stanley, JP Morgan, Goldman, Sachs & Co, and Wells Fargo Securities acted as joint bookrunners for the offering.
The offering is expected to close on 30 April 2013.
