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Sirius Real Estate Ltd, a London and Johannesburg listed property investor, has completed a capital raise by issuing around 75.49 million new shares at 102.0 pence each, generating gross proceeds of about GBP 77 million. The new shares account for roughly 5% of the company's existing share capital prior to the raise, and directors also subscribed for about GBP 100,000 collectively. Sirius plans to use these funds to finance two acquisition opportunities in Germany, with a focus on defence related assets valued at approximately130 million. The new shares are expected to be admitted to trading on the London Stock Exchange and JSE later this week.
Sirius Real Estate Ltd has successfully completed a capital raise by issuing 75,490,196 new ordinary shares at an offer price of 102.0 pence per share, generating gross proceeds of about GBP 77 million. This offer price was set at a slight premium to recent closing share prices and the weighted average market price. The new shares issued represent roughly 5.0% of the company's issued ordinary share capital before the raise. Advertisement
The capital raise included participation by company directors and persons discharging managerial responsibilities, who together subscribed for new shares worth approximately GBP 100,000 in aggregate. Sirius has said the funds will be used primarily to support two acquisition opportunities in Germany, focused on defence related industrial properties with a total estimated value of around 130 million (113 million). These acquisitions align with the company's strategy of growing through targeted investments while maintaining its asset management focus.
The new shares are anticipated to be admitted to trading on both the London Stock Exchange and the Johannesburg Stock Exchange later this week. The capital raise was structured through an accelerated bookbuild process for institutional investors as well as a conditional retail offer made via RetailBook, enabling individual shareholders to participate on specified terms. Sirius carried out consultations with existing shareholders on the offer, respecting pre-emption principles while also allowing participation from new long only investors.
Sirius Real Estate owns and operates business and industrial parks across Germany and the United Kingdom. It has been active in deploying capital in recent periods, with acquisitions and portfolio growth contributing to strong rent roll performance and expansion of its footprint. The company has pursued both organic growth and acquisitions, reinforcing its presence in key markets and maintaining a progressive dividend policy.
Source Reuters
5th Jun, 2025
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