Big Yellow Group on Friday confirmed its total shares in issue, a formal step required under UK takeover rules after the company became the subject of bid speculation.
The self-storage provider is now in an official offer period following recent reports that private equity firm Blackstone was considering a potential cash offer.
Big Yellow previously acknowledged it had held meetings with a small number of parties to explore options, including a potential sale, but said it was not in active discussions and had not received a formal approach.
The takeover interest comes as the company navigates a slowdown in occupancy growth, which it has attributed to macroeconomic uncertainty.
Big Yellow has been raising rental rates to support revenue while continuing to expand, recently announcing the acquisition of a site in London for 10.8 million British Pounds.
In its filing, the company confirmed it had 196,767,698 ordinary shares in issue as of Friday.
More from this issuer
Related coverage
Big Yellow Group on Monday reported a 9% rise in first-half adjusted profit, presenting a mixed picture of rising rents and falling occupancy for private equity firm Blackstone as it weighs a potential takeover bid.
Blackstone has been granted an extension to its deadline to either make a formal takeover offer for Big Yellow Group or walk away from a potential deal.
Private equity firm Blackstone is considering a potential cash offer for Big Yellow Group, the UK's largest self-storage provider, the company said on Monday.
Big Yellow Group said it will acquire a property in East London for 10.8 million British Pounds, pushing ahead with expansion plans despite a recent slowdown in occupancy growth.