Swiss Properties plans to raise 500 million
The Swiss Life REF (CH) Swiss Properties real estate fund plans to carry out a capital increase of around CHF 500 million at the beginning of December 2020 to finance the acquisition of a portfolio.
According to Swiss Life, the capital increase to purchase the portfolio will be carried out on a commission basis ("best-effort basis") as part of a public rights offering in Switzerland. Two subscription rights entitle the holder to purchase one new share; official subscription rights trading will take place on the SIX Swiss Exchange from November 30 to December 9, 2020. A total of up to 4.5 million new shares are to be issued at a price of CHF 111.20 each. The subscription period is scheduled to run from November 30 to December 11, 2020, with payment on December 17, 2020.
Net income increases to 24.3 million
In the 2019/2020 financial year, the fund increased its net income by 4.2% year-on-year to 24.3 million. The distribution per unit remains stable at CHF 2.60; the distribution yield based on the market price is 2.02%.
As at the end of September 2020, the Swiss Properties portfolio consisted of 91 properties with a market value of around 1.38 billion, which is 18.6 million or 1.5% more than in the previous year (net, after deduction of investments). Properties in Zurich, Schaffhausen and Bussigny were acquired. The vacancy rate is 2.76%. (ah)
