Sigma Capital advances plans for outside-of-London focused REIT
Sigma Capital Group's equities are up almost 1% on news it is advancing plans for the possible launch and flotation of an independent and outside-of-London focused REIT.
Financial Services
14,164.95
17:14 18/04/24
FTSE AIM All-Share
745.29
16:54 18/04/24
Sigma Capital Group
202.00p
16:59 09/08/21
"The proposed REIT would be managed by Sigma and invest predominantly in Private Rented Sector housing in the main English conurbations, and largest employment centres, outside of London. It is also intended that the REIT develops assets utilising Sigma's PRS platform," it said in a statement.
This was in keeping with a previously stated intention to explore a long-term holding vehicle into which it could sell its developed PRS assets, recycle its capital and significantly scale its self-funded PRS delivery.
Sigma continued that the Homes and Communities Agency (HCA) had in priciple agreed to support such a REIT through direct investment in the possible flotation.
At 14:42 GMT, shares in AIM-listed Sigma were up 0.77% to 65.5p.