Axa Immovation Commercial: Capital increase in preparation
The Axa Immovation Commercial real estate fund is planning a capital increase with a targeted volume of around CHF 65 million in December 2017.
As the fund management company Axa Investment Managers Schweiz AG announced last week, the capital increase is being carried out in order to raise additional funds for the further expansion of the investment portfolio. In addition, the repayment of short-term debt capital is planned. The increase in the fund's capital will be carried out while safeguarding the subscription rights of existing shareholders.
The issue price is to consist of the net asset value of the annual financial statements as at the end of September 2017 (plus accrued income up to the date of payment) as well as incidental purchase costs and the issue commission. Further details of the planned capital increase will be published at the end of the month.
AXA Immovation Commercial invests directly in commercially used Swiss real estate. Investments are made throughout Switzerland, with a focus on the German-speaking economic areas of Switzerland and their catchment areas. The fund invests primarily in office properties, retail space/commercial properties, hotels and educational establishments.
