IN BRIEF: Sirius Real Estate raises PS77 million for buys in Germany

Sirius Real Estate Ltd - London and Johannesburg-listed property investor - Raises £77 million from the sale of 75.5 million new shares at 102.0 pence each via an accelerated bookbuild. The new shares represent about 5% of the issued share capital before the capital raise. Sirius says it plans to use proceeds to make two acquisitions in Germany.

Sirius Real Estate on Monday had said it intended to raise about £75 million through a non-pre-emptive placing of new shares. It also announced a separate retail offer of about £2 million. It said it believes the real estate market dynamics in Germany provide a sound backdrop to pursue its organic and acquisitions-led growth strategy over the medium-term.

Current stock price in Johannesburg: R 22.12, down 1.0% on Tuesday morning

12-month change in Johannesburg: up 21%

Stock price in London: 102.00 pence

12-month change in London: up 31%

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