Immofonds: Fresh money for Wankdorfcity 3
With issue proceeds of around CHF 149 million, the Immofonds has successfully completed its latest capital increase.
The most recent capital increase has brought CHF 149.2 million into the Immofonds' coffers, meaning that the issue proceeds were achieved as planned, according to the fund management company Immofonds Asset Management AG. With a subscription ratio of 10:1, a total of 351,154 new units were issued during the subscription period (17.09.-23.09.2024) at a net subscription price of CHF 425.00 per unit. Payment was made on September 27, 2024; the new shares are fully entitled to dividends for the 2024/2025 financial year, which began on July 1, 2024. A total of 3,862,698 Immfonds units are now in circulation.
"We can use the issue proceeds to tackle the second construction phase of the major Wankdorfcity 3 project," says Gabriela Theus, Managing Director of Immofonds Asset Management AG. Wankdorfcity 3, which is considered one of the most innovative urban development projects in Switzerland, will create space for around 1,100 residents, around 3,000 jobs and green and leisure areas on various levels in Bern. "With this project and other sustainable investments in the existing portfolio, we are realizing future value and earnings potential in which investors can participate," says Theus.
In addition to the investments in the major Wankdorfcity 3 project, the inflow of funds will be used to implement already planned ESG measures and other smaller construction projects in the portfolio as well as to reduce external debt. (bw)
