Positive news for Sigma Capital and Vipera…and the shares respond
Sigma Capital confirms a well-supported £250m raise for the new PRS REIT, with UK Government contributing a meaningful slice and Vipera announces a positive contract win. Not surprisingly, shares in both companies have performed strongly over the past few weeks. Our latest Blog offers some thoughts..
Sigma Capital Group (AIM:SGM) The PRS REIT announced that it has successfully raised gross proceeds of £250m with the issue significantly oversubscribed. Clearly there is huge institutional interest in this offering, which extends to the UK Government whose Homes and Communities Agency (“HCA”) invested £25m, representing c. 9.99% of the Issue. Investment Adviser to the PRS REIT is Sigma PRS Management Limited, a subsidiary of Sigma Capital Group, which has a 5 year management contract with the PRS REIT which is expected to provide a predictable revenue stream going forwards. Sigma Capital’s development business will also have a long term…