October 12, 2018 / 6:51 AM / 2 months ago

Shurgard Self Storage prices IPO at bottom of indicative range

Oct 12 (Reuters) - Shurgard Self Storage said on Friday it had priced its initial public offering (IPO) on Euronext Brussels at 23 euros ($26.66) per share, at the bottom of its indicative price range of 23 to 28 euros.

Europe’s largest provider of storage for consumers and small businesses said it would raise 575 million euros in the offering, which values the company at 2.04 billion euros.

“The raised funds will help us ... by optimizing our existing portfolio, developing new stores in our key European markets and by continuing our role as a consolidator with targeted bolt-on acquisitions,” Chief Executive Marc Oursin said in a statement.

BNP Paribas, J.P. Morgan Securities plc and Societe Generale are joint global coordinators and joint bookrunners, with HSBC Bank plc and Kempen & Co also joint bookrunners.

Trading of the company’s shares on Euronext Brussels will start on Oct. 15.

$1 = 0.8628 euros Reporting by Alan Charlish in Gdynia; Editing by Mark Potter

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