Urban Logistics trust looks to raise £200m and applies for LSE's main market

Strong pipeline

The £735.7m Urban Logistics investment trust is looking to raise £200m through an equity issue and is applying to be admitted to the premium segment of the London Stock Exchange (LSE).

The trust, which is focused on industrial and logistic properties, will fundraise through initial placing, offer for subscription and intermediaries offer. The issue price will be 170 pence, a discount of 4.2% to the closing share price on 12 November. The net proceeds will be used towards a pipeline of assets in excess of £400m, according to the company and will be deployed within three to six months. The company last raised money in July and has fully deployed or committed the £108m raised. Nigel Rich CBE, independent non-executive chair, said the trust has experienced "transform...