Dawnay Day Sirius has raised about EUR 272 mln in a share issue. The company, established by Dawnay Day and Sirius Facilities to acquire mixed-use commercial real estate, has sold 272 million ordinary shares at a price of EUR 1 per share. The market capitalisation based on the offer price will be about EUR 300 mln. Dawnay Day Sirius is planning to use the proceeds of the share issue to acquire a portfolio of assets worth up to EUR 750 mln over the next 12-18 months.

Dawnay Day Sirius has raised about EUR 272 mln in a share issue. The company, established by Dawnay Day and Sirius Facilities to acquire mixed-use commercial real estate, has sold 272 million ordinary shares at a price of EUR 1 per share. The market capitalisation based on the offer price will be about EUR 300 mln. Dawnay Day Sirius is planning to use the proceeds of the share issue to acquire a portfolio of assets worth up to EUR 750 mln over the next 12-18 months.

It is expected that admission to the AIM market of London's Stock Exchange will become effective on Thursday (4 May). JP Morgan Cazenove is acting as nominated advisor (Nomad), sole financial adviser and joint broker to the company. KBC Pell Hunt is acting as joint broker. Following admission, the company will acquire an initial portfolio of 20 properties in Germany with about 390,000 m2 of space. The portfolio, valued at EUR 206 mln, will generate an annual net rental income of about EUR 13 mln, and a net initial yield of 6.3%.