Sirius Real Estate raised £146.6m in a placing.
The company said the net proceeds enable it to execute on a significant near term pipeline of attractive acquisition opportunities.
The capital raise comprises the issue of 170,417,384 new ordinary shares, which represent around 14.5% of the share capital of the company prior to the raise.
The offer price of 86.0p represents a discount of 5.9% to the closing share price of 91.4p on 17 November 2023.
The new shares will be admitted on 24 November 2023 and following admission, the total number of ordinary shares in issue in the company will be 1,348,140,369.
Andrew Coombs, chief executive of Sirius Real Estate, said: “The success of this capital raise is a strong endorsement of our ongoing strategy for growth as well as the track record of strong operational performance and value creation we continue to achieve. We are particularly encouraged by the strong demand we have seen for the raise from both existing and new institutions, as well as from our retail offering. We now look forward to investing the proceeds into our near term pipeline of attractive acquisition opportunities and to utilising our operating platforms in the UK and Germany to add further value to these assets once purchased.”
SRE : Sirius Real Estate raises £146.6m