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Public Storage European affiliate Shurgard closes initial global offering

European self-storage facility owner and operator Shurgard Self Storage completed its initial global offering of new ordinary shares at a final offer price of €23 apiece.

The offering reflected an implied market capitalization of €2.04 billion, representing 88.9 million total outstanding shares.

Shurgard is an affiliate of self-storage real estate investment trust Public Storage, which did not sell any of its 31.3 million shares as part of the offering.

Trading of Shurgard shares started on the regulated market of Euronext Brussels on Oct. 15 under the SHUR symbol.