Real estate company Dawnay, Day Sirius has raised euro272 million (184.2 million) through an IPO on AIM after its shares were sold for euro1 (67p) each.

Real estate company Dawnay, Day Sirius has raised euro272 million (184.2 million) through an IPO on AIM after its shares were sold for euro1 (67p) each.

The company, which was recently established to acquire large mixed-use commercial real estate for upgrading to flexible workspaces, has been valued at some euro300 million (£203.2 million).

Dawnay, Day Sirius will use the proceeds to buy a portfolio of assets in the next 12-18 months.

The company appointed Carey Olsen as its lead Guernsey adviser. The firm, led by partner Ben Morgan, project managed the establishment of and gained regulatory approval for the funding vehicle and advised on all Guernsey law issues arising from the deal.