Novavest: Capital increase and expansion of real estate portfolio

According to Novavest Real Estate, the funds from the last capital increase in June of this year have been invested in the meantime. As there are currently several further investment opportunities, the company is planning a capital increase from authorized capital in the order of CHF 22.6 million. Purely residential properties as well as combined residential and commercial properties are to be acquired.

The capital increase is to be carried out between October 16 and 31, 2017, with existing shareholders retaining their subscription rights. The subscription ratio is 23:3 - 23 existing registered shares entitle the holder to subscribe to three new registered shares. Thus, a maximum of 594,247 new registered shares with a nominal value of CHF 33.25 each will be created in the course of the capital increase. The issue price is CHF 38.00 per new registered share. There will be no trading in subscription rights. Shares not subscribed in the rights offering will be allocated to Bank J. Safra Sarasin for further allocation to investors.

Novavest is expected to inform about the result of the capital increase on November 3, 2017. The first trading day of the new registered shares on the BX Berne eXchange is scheduled for November 13, 2017.

The real estate company focuses its activities on the management and development of properties with purely residential use (share of rental income from residential use at least 50% of total rental income) and with office and commercial use, as well as on new construction projects in these segments. The real estate portfolio is concentrated on properties located in the catchment area of the centers of Basel, Berne, Aarau, Zurich, Winterthur and St. Gallen, as well as on their axes, and which are each well served by public transport or private motorized transport.