LuxCSD handled high volume issuance of equities in dematerialised form


LuxCSD successfully dematerialised the share capital of Shurgard Self Storage S.A. (Shurgard), the largest owner and operator of self-storage facilities in Europe The company launched its initial public offering (IPO) on Euronext Brussels on 15 October 2018 to raise EUR 575 mn. The LuxCSD Principal Agent (LPA) was Banque et Caisse d’Epargne de l’Etat (BCEE), ensuring the timely and accurate processing of the securities.

LuxCSD fully supports the issuance of dematerialised securities as these significantly reduce inefficiencies, risks and costs for the industry. Dematerialised issuance is widely recognised as the most efficient and secure form of issuance.

In 2013, Luxembourg adopted the law governing the dematerialisation of physical securities as well as the issuance of dematerialised securities, permitting electronic records to replace the currently predominant global certificate. Issuers benefit from the ability to receive information on the holders of their issued securities and from more favourable treatment of electronic securities under foreign laws, for example for tax purposes.