Public Storage Inc., Glendale, Calif., has priced a public offering of 18 million depositary shares, each of which represents one-thousandth of a share of series I 7.25% cumulative preferred stock, at $25 per share.The real estate investment trust said gross proceeds are expected to total $450 million. The joint book-running managers for the public offering were Citigroup Global Markets Inc., Merrill Lynch & Co., Morgan Stanley, and Wachovia Securities. The REIT can be found online at http://www.publicstorage.com.
Public Storage Prices Depositary Shares
April 27, 2006, 2:00 p.m. EDT 1 Min Read
