Stephen Lacey is US Editor for International Financing Review, helping to oversee editorial content across the region. He has particular expertise in coverage of the equity capital markets – IPOs, follow-on stock sales, and equity-linked securities – spanning the entire corporate life cycle, from venture and private equity to entry and maturation in the public markets.
- +1 646 223 8808
National Storage Affiliates got off to a tepid start as shares of the start-up self-storage REIT traded flat on their debut last Thursday, both opening and closing NYSE trading at the US$13.00 offer price.
Historically depressed prices for oil and natural gas would seem to make for a strange time to float a royalty income trust. Then again, stressed financing structures across the industry could make fertile ground to acquire mineral interests at attractive prices.
National Storage Affiliates is off to a tepid start. Shares of the upstart self-storage REIT are trading flat in their market debut today, despite a deeply discounted valuation.