National Storage REIT (ASX:NSR) looking to raise $330 million

Company News

by Rachael Jones

National Storage REIT (ASX:NSR) is set to raise up to $330 million to strengthen its balance sheet, replenish investment capacity and provide additional funding flexibility.

The company is seeking to raise $300 million through a fully underwritten institutional placement and $30 million through a non-underwritten security purchase plan.

The offers will be made at $1.57 per stapled security, at a 7.1 per cent discount to its Monday close of $1.69.

Shares in National Storage REIT (ASX:NSR) are in a Trading Halt - Last traded at $1.69.