London Stock Exchange welcomes Urban Logistics REIT to the Main Market
London Stock Exchange today welcomes Urban Logistics REIT (“SHED” or the “Company”) to the premium segment of the London Stock Exchange Main Market following the completion of its transition from the Alternative Investment Market (“AIM”).
The Company, having now fully deployed or committed £132 million of capital following the Company’s July fundraising, has identified a further pipeline of high quality, last mile logistics assets, strategically located in targeted logistics hubs, totalling in excess of £400m. On, Thursday 2 December, the Company announced it had raised a further £250 million through a significantly oversubscribed Issue, highlighting the substantial demand from investors, allowing the Company to execute on this pipeline.
Since its initial IPO on AIM in April 2016, SHED’s unique portfolio of last-mile warehouses have been identified as an increasingly important area of the warehouse property sector. This profitable area has been further highlighted in the last couple of years by the supply chain issues, which have resulted from both Brexit and COVID-19. As of September 2021, the steady and consistent growth of the Company’s portfolio of 91 logistics assets, covering 5.8 million sq.ft, reflects this growing demand for last-mile logistics assets and the prime position in which the Company finds itself.
This expansion, which has seen the Company’s market cap rise to over £800m, now justifies a move to the Main Market, which the Directors believe is in the best interest of the Company and the Shareholders in terms of future fundraises, diversifying the shareholder register as well as media and analyst attention.