CS fund Siat raises almost 240 million from capital increase
The Credit Suisse Real Estate Fund Siat has completed its capital increase. As a result of the issue, the fund has received new money totaling CHF 239.2 million. The proceeds from the issue will be used for the further expansion of the real estate portfolio and for investments in existing properties.
The issue was carried out on a commission basis ("best-effort basis") as part of a public rights offering in Switzerland. Subscription rights were officially traded on the SIX Swiss Exchange AG from August 24 to September 1, 2015. With a subscription ratio of eight to one (eight subscription rights entitled the holder to purchase one new share), around 1.58 million new shares were issued at an issue price of CHF 151 net per share. This corresponds to a subscription ratio of 100 percent. The new units were paid out on September 11, 2015 and the net fund assets now amount to around CHF 2 billion. (ah)
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