KWM has continued its streak of IPO roles this month, acting for the National Storage Group in relation to the establishment of National Storage REIT and its initial public offering on the Australian Securities Exchange.
It is expected that National Storage REIT will list in late December 2013 and will have an initial market capitalisation of $240 million.
With 62 self-storage centres under operation or management across all six states of Australia, National Storage REIT will be one of Australia’s largest fully-integrated self-storage groups and will be the first of its kind to be listed on the Australian Securities Exchange.
National Storage REIT will combine the existing freehold assets of the APN National Storage Property Trust with the operating and management platform of the National Storage Group.
The Brisbane-based KWM team was led by Partner Stefan Luke who was supported by Senior Associate Rhys Casey and Solicitors Prue Macleod, Ashley Cooper, Karim Issa and Emmily Spormann.
Stefan Luke said, “It has been a pleasure to work together with the National Storage team during this crucial phase in the company’s history. With investor confidence in the equity markets continuing to improve, this is an exciting time for National Storage.”
KWM has recently advised on a spate of listings including McAleese, Nine Entertainment, Virtus Health, Steadfast and Affinity Education Group.
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