Sirius Real Estate Limited’s recent £77 million equity raise was significantly oversubscribed, reflecting —according to the company— continued investor confidence in its value-add business model and strategic focus on resilient sectors with stable cash flows.
The new capital will allow Sirius to immediately pursue acquisitions that enhance its exposure to properties and tenants linked to the defensive sector, located in established German markets.
The shares were issued at 102 pence each, representing a premium to both the last closing price and the 30-day volume-weighted average price on the Johannesburg Stock Exchange (JSE). A total of 75.5 million new ordinary shares will be issued, increasing the company’s share capital by approximately 5%.
Sirius intends to apply for the new shares to be admitted for trading on both the main market of the London Stock Exchange (LSE) and the main board of the JSE, with trading expected to commence on 20 February 2026, subject to customary conditions.
The subscription included participation by the CEO, senior executives, and other board members, reinforcing alignment with shareholders.
CEO Andrew Coombs stated that the successful raise —priced in line with the company’s adjusted net asset value (NAV)— demonstrates the investment community’s support for Sirius’s growth strategy, the quality of its existing portfolio, and the prospects for further expansion through its investment pipeline.
The properties targeted for acquisition are in established markets, with strong tenants, high occupancy rates, and stable income from day one, while also strengthening Sirius’s presence in the rapidly growing defense sector. The company also confirmed its medium-term operational target of €175 million in funds from operations (FFO), emphasizing disciplined capital allocation and recycling.