Sirius Real Estate Completes GBP35 Million Equity Raise (ALLISS)

LONDON (Alliance News) - Sirius Real Estate Ltd said Tuesday that the previously announced GBP35 million share placing was significantly oversubscribed.

The company, which raised the money to acquire a portfolio of assets, issued 58.3 million shares at a price of 60 pence per share via an accelerated bookbuild process. Berenberg, Peel Hunt and PSG Capital acted as joint bookrunners.

The placing price was at a discount of 2.76% to the intra-day price at 1315 GMT, being the time the placing price was agreed.

"We are delighted by the support for this placing from both existing and new investors and we are confident that the new funds will be a key factor in generating increased future returns for all shareholders through the acquisition of the target pipeline," Chief Executive Andrew Coombs said.

Sirius Real earlier in the day said the proceeds will go towards the acquisition of a portfolio of five assets, which could be acquired for EUR77.0 million.

Shares in the Germany-focused business park operator closed at 62.78p, down 8.5%.