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- Sirius Real Estate moves to a Premium Main Market listing on the LSE and a secondary listing on the JSE
Sirius Real Estate’s shares have been admitted to the premium segment of the London Stock Exchange’ main market for listed securities and have transferred from the Alt-X market of the Johannesburg Stock Exchange to its Main Board. SRE’s board expect this to have a number of benefits including: a more appropriate platform for the continued growth of Sirius, raising its profile and status as a high quality real estate business; increasing the Company’s appeal to a broader range of investors to facilitate the longer-term ambitions of the Company; subject to meeting the relevant criteria, benefiting from inclusion in certain indices; and developing the Company’s corporate governance, regulatory and reporting disciplines.
Sirius is a property company listed on the main market and premium segment of the London Stock Exchange and the main board of the Johannesburg Stock Exchange. It describes itself as a leading operator of branded business parks providing conventional space and flexible workspace in Germany.
The Company explains its core strategy as being the acquisition of business parks at attractive yields, the integration of these business parks into its network of sites under the Company’s own name as well as offering a range of branded products within those sites, and the reconfiguration and upgrade of existing and vacant space to appeal to the local market, through intensive asset management and investment.
The Company says that it aims to deliver attractive risk adjusted returns for shareholders by increasing rental income and improving cost recoveries and capital values, as well as by enhancing those returns through financing its assets on favourable terms. It says that, once sites are mature, and net income and values have been optimised, Sirius may consider their disposal in order to recycle equity into assets which present greater opportunity for the Group’s asset management skills.
Sirius Real Estate moves to a Premium Main Market listing on the LSE and a secondary listing on the JSE : SRE