Investec supported Stor-Age in raising R500 million through an accelerated bookbuild, at a 0.7% discount
About the deal
Investec Bank is proud to have assisted Stor-Age Property REIT Ltd in successfully raising R500 million (EUR 25.85m) through an accelerated bookbuild at a 0.7% discount to the 30 day VWAP.
The proceeds will be applied to support the Company’s 2030 Property Strategy. Specifically, the funds will be used to fund identified acquisition and development opportunities and provide capacity for general corporate purposes.
About Stor-Age Property REIT Limited
Stor-Age develops, acquires, and manages high-profile self-storage properties. It’s South Africa’s largest self-storage property fund and brand, and the first and only specialist self-storage Real Estate Investment Trust (REIT) listed on any emerging market exchange.
Listed on the Johannesburg Stock Exchange since November 2015, Stor-Age’s portfolio comprises more than 100 properties across South Africa and the United Kingdom.
Our role
Leveraging expertise across Investec’s teams (Corporate Finance, Institutional Equities & Trading and Equity Capital Markets), this transaction reinforces Investec’s reputation as a trusted partner for capital raises in the South African capital markets.
