Novavest shares now listed on SIX
Novavest Real Estate listed its shares on the SIX Swiss Exchange on December 16. The opening price was CHF 43.50, giving a market capitalization of 280 million.
Novavest Real Estate is the 18th real estate company in the "Standard for Real Estate Companies", according to the stock exchange operator SIX. It was the seventh IPO ever this year.
With the listing on the SIX Swiss Exchange, the previous listing on the BX Swiss has been cancelled at the same time. The move to the SIX further enhances the share's tradability and attractiveness, says Peter Mettler, Delegate of the Board of Directors and CEO of Novavest Real Estate.
As part of a capital increase prior to the IPO, 1.3 million new registered shares were issued at a price of CHF 40.20 each. The placement volume was thus 51.8 million.
Novavest's real estate portfolio amounts to around 540 million, with investments mainly in properties in the catchment areas of Basel, Bern, Aarau, Zurich, Winterthur and St. Gallen. (ah)
