Sirius Real Estate Ltd - London and Johannesburg-listed property investor - Raises £146.6 million via the issue of 170.4 million new shares, representing around 15% of total shares prior to the capital raise. Earlier in the day, it said it sought to conduct a non-pre-emptive placing of new shares to raise about £145 million to allow it to buy new properties. The property group said it had identified a pipeline of eight attractive acquisition opportunities that met its criteria. Of these, four are based in Germany and would require around £85 million, and four are located in the UK and would require some £45 million. Over the last four months, it acquired assets in Liverpool, Barnsley and three in North London for a combined £45 million.

Also on Monday, Sirius Real Estate reported its interim profit nearly halved as a result of the revaluation of investment properties, and indicated it intended to raise capital for acquisitions. Pretax profit was €39.8 million for the six months that ended September 30, down 47% from €75.7 million a year before. This was mainly due to a loss on revaluation of investment properties of €10.1 million, from a gain of €26.8 million previously. Revenue was up 7.3% to €140.1 million from from €130.6 million.

Current stock price: R 20.25, up 1.4%

12-month change: up 18%

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