Capital increase for Helvetica Swiss Commercial
The subscription period for the first capital increase of the Helvetica Swiss Commercial real estate fund runs from March 15 to April 13. Up to 772,200 new units will be issued at a price of CHF 104, giving the issue a total volume of up to 80.3 million.
Each existing share in Helvetica Swiss Commercial is allocated a subscription right entitling the holder to subscribe to a new share. Subscription rights are not traded, and subscription rights that are not exercised expire worthless and without compensation.
On January 25, 2017, the Board of Directors of the fund management company Helvetica Property Investors AG decided to newly issue a maximum of 772,200 units, thus doubling the number of units in circulation in the real estate fund. The issue price of CHF 104 net per unit is based on an inventory value as of December 31, 2016 of CHF 100.59/unit and includes changes in the value of the properties, purchase in current income and various incidental costs.
The aim of the capital increase is to raise additional funds for the further expansion of the portfolio and to reduce the leverage ratio, the fund management informs. The first issue of Helvetica Swiss Commercial was completed only in December 2016, it had a volume of 77.22 million. Since then, the fund has invested around 100 million in real estate.
