Cronos Immo Fund: Capital increase fully subscribed
The Cronos Immo Fund has completed its ninth capital increase. The asset management company Cronos Finance SA considers the result a success.
The capital increase was fully subscribed. Cronos Finance sees this as a "clear sign of confidence from its investors against the uncertain situation on the financial markets." On today, March 29, the payment date, 291,114 new shares will be issued for a total value of over CHF 32 million. The price at which the subscription right was traded on the SIX Swiss Exchange between March 8 and March 20 ranged between 19 and 31 centimes during this period.
As already announced at the beginning of the capital increase, the management simultaneously provided for the issuance of additional shares by way of contributions in kind. For this purpose, 57,028 shares with an equivalent value of approximately CHF 6.3 million will be issued.
The proceeds of the issue are to be used to finance the buildings in the portfolio, to acquire new properties for which negotiations are already underway or about to be concluded, and to renovate the oldest buildings in the portfolio. In addition, a slight reduction in the debt-equity ratio is planned. (aw)
