Shares in Sirius Real Estate (LON:SRE) have rallied following its debut on the main London Stock Exchange as of 8.00AM on Monday Morning.
The real estate holding company, which invests in developing commercial properties in Germany, said it looks forward to “having a more appropriate platform” for its continued growth.
According to the announcement, there are 852,858,815 ordinary shares in issue of which 1,062,058 ordinary shares are held in treasury, with total number of voting rights in Sirius Real Estate being 851,796,757.
Andrew Coombs, Chief Executive, said:
“We are delighted to have completed the step up onto the LSE’s Main Market and the Main Board of the JSE. The move is a reflection of the progress we have made in developing the business and of our appetite to continue the momentum we have created.
“Looking ahead, there are good opportunities to increase our property portfolio and the broader trading platform of these two premier markets with their deeper pools of domestic and international investors will be key in helping achieve this.”
This follows the reassessment of analyses by various brokers of the company in recent days. According Reuters data, as of Monday 6th of March, 3 analysts have a rating of “strong buy”, 0 analysts “buy”, 0 analysts “neutral”, 0 analysts “sell” and 0 analysts “strong sell”.
The company currently has a portfolio of around 40 business parks across Germany. Its properties include Sirius Business Park Wuppertal, Sirius Business Park Solingen, Sirius Business Park Rostock, Sirius Business Park Mainz, Sirius Business Park Pfungstadt, Sirius Business Park Offenbach Carl Legien Strasse, Sirius Business Park Offenbach, Sirius Business Park Nuremberg and Sirius Business Park Markgroningen.
Shares in the company are up 8,693.10 percent as of 09.55 AM (GMT).