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Investec advises Stor-Age on a successful R575m capital raise, the JSE’s first major capital raise of 2022
Investec Bank is proud to have assisted Stor-Age Property REIT Limited to successfully raise R575 million by way of an accelerated bookbuild, which, following strong demand, was multiple times oversubscribed at a discount of 0.92% to reference price. Investec’s continued connectivity and high touch points into the listed real estate sector helped to drive another successful capital raise.
Stor-Age is a pioneer in the South African property and self-storage market and has made tangible gains in the United Kingdom market. Stor-Age has consistently outperformed the listed property index and SA REITs since listing in 2015, outperforming by c.192%. The capital raise will be used to fund portfolio enhancing acquisitions and expansion opportunities in South Africa and the United Kingdom.