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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.