CS fund Siat raises over 155 million
The real estate fund Credit Suisse Real Estate Fund (CS REF) Siat has raised CHF 155.4 million in its capital increase.
With a subscription ratio of 16:1, 964,918 new fund units will be issued at a net price of CHF 161.00 each, Credit Suisse announced. This corresponds to a subscription ratio of 100%. This means that there are now around 16.40 million fund units in circulation, with net fund assets of around CHF 2.57 billion.
The issue was carried out on a "best-effort basis" as part of a public subscription offer in Switzerland from August 24 to September 4, 2020, with subscription rights trading taking place on the SIX Swiss Exchange from August 24 to September 2. The new shares are to be paid out on September 11.
The fund intends to use the proceeds from the issue to expand and diversify its real estate portfolio. CS REF Siat invests primarily in apartment buildings in Switzerland's large and medium-sized centers and their agglomerations. (ah)
