Bridgepoint said it placed 32 million Safestore ordinary shares.

This represented 48.7% of Bridgepoint's holding.

The shares were placed with investors at 135p apiece and represent, in aggregate, approximately 17.0% of the current issued ordinary share capital.

Bridgepoint continue to hold 17.9% of the current issued ordinary share capital of Safestore.

Bridgepoint has committed, subject to limited carve outs, to not sell further shares in Safestore for a period of 90 days.

Bridgepoint says that as a result of the placing, it had achieved a total realised money multiple to date on its investment in Safestore of four times.

Story provided by Business Financial Newswire