Sirius Real Estate has raised £13m in a private placement to Neil Woodford a day after the company was admitted to the main market on the London Stock Exchange.
The German business park operator issued the shares at 50p per share, 6.95% above the adjusted NAV and a discount of 3.8% to yesterday’s closing price of 52p per share.
The placement shares represented about 3% of Sirius’s share capital prior to the placement.
Sirius moved from the AIM market to the main market yesterday while also entering the Johannesburg Stock Exchange’s main board.
Andrew Coombs, chief executive of Sirius, said: “The German property market is benefitting from an increase in activity driven by a number of economic and political factors, as well as the continuing favourable lending conditions.
“We very much hope that strong institutional demand for our shares will continue, resulting in an enhanced investor base and assisting in our aim to qualify for some of the indices potentially open to us since the move to the main market and premium listing in London and main board in Johannesburg yesterday.”
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