Puma Brandenburg, a new investment company targeting residential German property plans to raise between £100 and £150 million on AIM.

Shore Capital is handling the placing, whose pricing has not been finalised, and accountancy group Grant Thornton will be nominated adviser to Puma Brandenburg, which is a closed-end investment group domiciled in Guernsey. The company's policy will be to focus particularly on the Berlin area, where it will seek access to a 'strong deal flow' to provide investors with both significant income and capital growth.

Advisers suggest Puma will offer prospective dividend yields of more than eight per cent as from its second year of operation.