Novavest seeks fresh capital
Novavest Real Estate AG has announced the details of its planned capital increase. The issue is to have a volume of up to CHF 33.71 million.
Novavest intends to carry out the issue in the period from May 15 to June 9, 2017. The subscription ratio is 4:1; shareholders will therefore be offered one registered share for every four registered shares held at a subscription price of CHF 37.
The subscription period will run from May 15 to June 2, 2017, and there will be no trading in subscription rights. New shares not subscribed in the rights offering will be allocated to Bank J. Safra Sarasin Ltd. for further allocation to investors.
According to Novavest, up to 911,178 registered shares with a nominal value of CHF 33.25/share will be created as part of the capital increase. The execution of the par value repayment of CHF 1.05 per registered share to the new par value of CHF 33.25 will take place on June 7, 2017 with payment on June 8, 2017. The first trading day of the new registered shares on the BX Berne eXchange is scheduled for June 19, 2017.
Both the capital increase and the par value repayment have already been approved by the Novavest General Meeting.
