Axa Immovation Residential: capital increase planned
Axa Investment Managers Switzerland plans to carry out a capital increase for the Axa Immovation Residential real estate fund in December. The size is expected to be in the region of CHF 60 million.
The aim of the capital increase is to raise additional funds for the further expansion of the investment portfolio and the financing of construction projects and refurbishments, Axa Investment Managers announced.
The issue price would consist of the net asset value of the annual financial statements as at 30 September 2021 plus accrued income up to the payment date as well as ancillary purchase costs and the issue commission. The issue is to be carried out in compliance with the subscription rights of existing investors. Axa Investment Managers intends to announce the exact terms at the end of November.
Axa Immovation Residential invests in high-quality residential buildings throughout Switzerland, focusing on cities in high-growth economic regions and their catchment areas. At least 80% of the total rental income is generated from residential use. (ah)
