CS logistics fund raises 127 million
The Credit Suisse Real Estate Fund LogisticsPlus received new money in the maximum amount of CHF 127.2 million as part of its issue.
1.2 million new shares were issued at a net issue price of CHF 106.00, Credit Suisse reports. The subscription rate was thus 100 percent. The number of units outstanding now amounts to 4.2 million with net fund assets of CHF 437.3 million. The issue proceeds are to be used for the further expansion and diversification of the real estate portfolio.
The issue was carried out on a commission basis ("best-effort basis") as part of a rights offering in Switzerland. Five subscription rights entitled to the purchase of two new shares. The regular, off-exchange rights trading took place from August 20 to 29, 2018 via Credit Suisse (Switzerland). The new shares were paid on September 7.
CS REF LogisticsPlus says it is the first Swiss real estate fund to invest in logistics and logistics-related real estate in Switzerland. The fund is aimed at qualified investors and is traded over-the-counter by Credit Suisse. (ah)
