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Segro to Raise $827 Million as Virus Boosts Warehouse Demand

  • Proceeds will be invested in new developments, acquisitions
  • Online retailers are already expanding their footprints
Updated on

Segro Plc is raising 650 million pounds ($827 million) in a bet the coronavirus pandemic will boost online shopping and demand for the U.K. landlord’s warehouses.

The proceeds of the share placing will fund new developments in the U.K. and Europe as retailers look for new warehouses to serve online orders, according to a statement Tuesday. The capital raise, which includes a placing and a retail offer, represents about 7% of the company’s share capital.