Dominicé Swiss Property Fund completes capital increase

One million new shares were subscribed for more than CHF 120 million, the fund company says. This means that there are now 2.6 million shares outstanding, representing more than 312 million in equity. With the proceeds of the issue, Dominicé Swiss Property Fund intends to reduce its debt and continue its growth.

"We will be able to close two real estate acquisitions for a total amount of 75 million, which were recently signed but are conditional on the success of this capital increase," said Michel Dominicé, senior partner of the management company. The fund will also be opened to non-qualified investors and listed on the stock exchange on October 10 or 12, Dominicé added.

The Dominicé Swiss Property Fund invests in residential buildings in Switzerland, which include new buildings as well as buildings under renovation and construction projects. The fund's objective is to generate a distributable return of three percent per year over the long term. (ah)