Shurgard Europe, the largest owner of self-storage units in Europe, is planning to raise as much as EUR 752 mln in an initial public offering (IPO) on Euronext Brussels. Shurgard, a unit of California-based Public Storage, is offering about 44 million new shares at a price of EUR 12.50 to EUR 15 per share. The price range gives the company a potential capitalisation of between EUR 1.1 bn and EUR 1.4 bn, Bloomberg reported.
Shurgard Europe, the largest owner of self-storage units in Europe, is planning to raise as much as EUR 752 mln in an initial public offering (IPO) on Euronext Brussels. Shurgard, a unit of California-based Public Storage, is offering about 44 million new shares at a price of EUR 12.50 to EUR 15 per share. The price range gives the company a potential capitalisation of between EUR 1.1 bn and EUR 1.4 bn, Bloomberg reported.
The company owns 167 self-storage centres across Belgium, France, Sweden, the UK, the Netherlands, Denmark and Germany. The total rental income of the portfolio came to EUR 130 mln in 2006.
