After capital increase: Züblin wants to expand again
Züblin Immobilien Holding AG intends to use the funds from the capital increase currently underway for expansion and acquisitions. The company expects net proceeds of at least CHF 70 million.
In the rights trading, which ran until November 24, 92.36 percent of the new registered shares offered were subscribed. The remaining shares will be offered for sale on November 27, 2015, in a public placement in Switzerland and in private placements with institutional investors outside Switzerland and outside the USA as part of an accelerated bookbuilding process. Lamesa Holding S.A. will acquire the registered shares that are not sold in the placement.
Meanwhile, Dr. Iosif Bakaleynik, CEO and Chairman of the Board of Directors of Züblin Immobilien Holding, announced in an interview with the NZZ on Sunday the purchase of properties. Accordingly, Züblin will concentrate on office and commercial properties in Germany, Switzerland and Austria. The focus will be on B locations in A cities and A locations in B cities. The company is also considering a return to the capital market, Bakaleynik said in the NZZ interview. In the medium term, Züblin is targeting a portfolio size of CHF 1 to 1.5 billion.
The Züblin shareholders had resolved restructuring measures in the form of a capital reduction combined with a simultaneous capital increase. The steps had become necessary due to the low equity ratio of the real estate holding company. Originally, the capital measure was to take place in late summer, but it was postponed due to turbulence on the financial markets. (ah)
