Helvetica Swiss Commercial: Capital increase starts
Helvetica Property Investors is conducting a capital increase for the real estate fund Helvetica Swiss Commercial (HSC) from June 4 to 19. Up to CHF 102 million is expected to be raised.
The aim of the capital increase is to raise additional equity for the development of the portfolio, Helvetica Property Investors announces. Up to 926,475 new shares will be issued at an issue price of CHF 109.95 net per share, increasing the number of shares outstanding from currently around 1.85 million to a maximum of 2.78 shares.
In the course of the transaction, one subscription right will be allocated to each existing share; two subscription rights entitle the holder to subscribe to one new share. There will be no official trading in subscription rights, and any rights not exercised will expire. According to the fund management, it reserves the right to take over unsubscribed units and subsequently place them on the market free of charge together with the custodian bank or third parties.
The exact number of new shares to be issued will be determined after the subscription period and based on the subscriptions received. The payment will take place on June 26, 2018.
Helvetica Property Investors further announces that, in view of the planned listing in the first quarter of 2018, the fund has been approved by Finma as a public fund and is therefore now open to all investors.
