Capital increase for CS fund Siat

Eight existing shares entitle the holder to subscribe to one new share. A maximum of 1,583,856 new units will be issued. The issue price per share is CHF 151 net with a net asset value of CHF 143.03 per new share. In the run-up to the capital increase, Credit Suisse revalued or reviewed the properties in the portfolio. This resulted in a new net asset value of CHF 143.03/unit as of September 11, 2015, which is CHF 8.03/unit more than the net asset value as of March 31, 2015.

The issue will be carried out on a commission basis ("best-effort basis") as part of a public rights offering in Switzerland. An official rights trading will take place on SIX Swiss Exchange AG from August 24 to September 1, 2015. Unsubscribed shares may not be issued, which will change the issue amount. The effective number of new shares to be issued will be announced on September 9, 2015. The payment will take place on September 11, 2015.

In recent months, CS REF Siat has acquired the last part of the Grafenau development for a purchase price of CHF 44.8 million. The property is characterized by its excellent location as well as the high quality of the building and is fully leased on a long-term basis, CS writes in a statement. The development, located in the middle of the city of Zug, consists of office and commercial properties and thus contributes to the further diversification of the portfolio.

The real estate fund is also investing CHF 94.8 million in the ROY development on the former Sulzer site in Oberwinterthur. The perimeter block development, which has an inner courtyard and recreational areas, consists of different types of apartments and commercial space.

CS REF Siat, which reported total fund assets of CHF 2.48 billion as of March 31, 2015, invests primarily in residential properties. (ah)