Wednesday, 07 December 2016 12:26

Sirius Real Estate targets main board

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Sirius expects to move to the JSE's main board in late January or early February.

 Andrew_Coombs_SRE

Sirius Real Estate, the AltX-listed owner of German flexible office space and storage assets, expects to move to the JSE's main board in late January or early February.

Sirius is the only pure Germany property player on the JSE, with assets in Berlin, Munich, Dresden, Wiesbaden and Mainz, among others.

The company invests in flexible office assets usually tenanted by small and medium companies. It also operates a rapidly growing storage business.

CEO Andrew Coombs said Sirius had seen large demand for office space in northwest Germany from telecom and financial services firms.

Management intends to grow the €770.9m portfolio to about €12bn within the next two years. A move to the main board would expose the company to larger institutional investors, Coombs said.

Sirius increased its dividend per share 51% in the six months to September.

source: Business Day

Last modified on Wednesday, 07 December 2016 12:43

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