In today’s briefing:
- National Storage REIT Placement – Past Deals Have Done Well but Stock Looks Toppish
- Carly Holdings Limited – Finance Facility Quadruples Potential Fleet Size
National Storage REIT Placement – Past Deals Have Done Well but Stock Looks Toppish
- National Storage REIT (NSR AU) (NSREIT) aims to raise around US$200m (A$300m) via an institutional placement.
- Past deals have ended up doing well, however, the stock now appears toppish and it’s unclear if the deal was well flagged.
- In this note, we will talk about the placement and run the deal through our ECM framework.
Carly Holdings Limited – Finance Facility Quadruples Potential Fleet Size
- Carly Holdings Limited (ASX:CL8) operates a vehicle subscription business, which it launched in March 2019.
- Car subscription allows business and retail customers to pay a single monthly fee to access a car for 30 days or more and is an alternative to purchasing or financing a vehicle.
- Carly has attracted larger automotive industry businesses as shareholders, with a model that facilitates sales volumes of new vehicles and delivers a new recurring revenue stream for automotive manufacturers and dealers.
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