The attractiveness of the global logistics market was once again reinforced today with the announcement of Aberdeen Standard European Logistics Income’s ‘non-pre-emptive’ issue of up to 18.45 million shares.

The asset management giant (ASLI) is due to add its 15th warehouse development via a €28m acquisition in Poland. Once completed – expected this month – it will increase the value of the company’s portfolio to €450m.

The share issue represents the maximum allowed under terms agreed with shareholders last June and they are not being offered at a fixed price. Allocation will start once the book-building process closes on Friday (March 12).

In a statement to potential investors, ASLI said: “In light of the attractive pipeline of investment opportunities that the Investment Manager is continuing to evaluate, the Board believes that it is an appropriate point at which to seek to raise money through the issue of New Ordinary Shares.”

As of close of play last night, the share price reached the equivalent of 113p and the new shares are expected to become effective around March 16.