HSL Fund: Fresh money sought for portfolio acquisition
A capital increase will be carried out for the HSL Fund from 16 November. It is intended to bring up to CHF 117.5 million into the fund's coffers; the purchase of 16 properties is planned.
The capital increase for the Helvetica Swiss Living Fund (HSL Fund) will run from 16 November to 2 December, with the new units to be paid on 6 December. With a subscription ratio of 5:3, a maximum of 1.03 million new units will be issued at a price of CHF 114.24 net. After the issue, up to 2.7 million fund units will be in circulation.
The funds from the capital increase will be used for the already secured acquisition of a portfolio worth 143 million, Helvetica announced. It consists of 16 properties in good locations and includes over 287 apartments. 31% of the properties are in Basel-Stadt, one third in the canton of St. Gallen, 10% in Thurgau and 26% in the canton of Zurich. The acquisitions will bring the fund to over 1,000, he said.
According to Helvetica, the properties will be purchased immediately after the capital increase has been paid out. The transaction is a milestone with regard to the intended listing of the HSL Fund on the SIX Swiss Exchange by the end of 2022. For the 2021 financial year, the fund management company plans a distribution of CHF 3.40/unit, which is 10% more than in the previous year. (ah)
