05 December 2014

Sirius Real Estate flat on listing

Sirius Real Estate flat on listing - Property | Moneyweb

Germany-focused property fund debuts on AltX.

JOHANNESBURG – Sirius Real Estate Ltd, a wholly Germany-focused property fund, traded in a tightly bound range on Friday morning, after listing on the JSE’s Alternative Exchange (AltX).

By 12:28, just more than 1 million shares had traded, out of a total issued share capital of 632,257,832. Having listed at R6 a share, the day’s low was a moderate R5.95, before edging back up to R6. At that price, Sirius has a market capitalisation of approximately R3.8 billion.

With a portfolio the company says is independently valued at R6.4 billion, Sirius is solely a specialist in German property, specifically 30 mixed-use business parks. The company is incorporated in the Channel Island of Guernsey.