Realstone fund raises 217 million
Realstone Development Fund raised CHF 217 million in its capital issuance.
According to Realstone, a total of almost 1.7 million new units worth CHF 217 million were subscribed to the Realstone Development Fund. The fund management company's expectations were thus far exceeded, with total demand more than twice as high as the capital offered, the company said in a statement.
The subscription period ended on June 9, and the new shares will be paid up on June 16.
The proceeds from the capital issue will be used mainly for the development of the real estate portfolio, in particular for projects in Horgen, Fribourg and Gland, as well as for the acquisition of opportunities in city centers, the fund company says.
The listing of the fund on the SIX Swiss Exchange is scheduled for the end of June, subject to the approval of the amendments to the fund contract by FINMA and the approval of the listing application by the stock exchange.
