HSC fund raises 75 million
The Helvetica Swiss Commercial (HSC) real estate fund has successfully completed its capital increase. According to Helvetica Property, the issue was significantly oversubscribed.
According to Helvetica Property, not only existing investors subscribed to shares as part of the capital increase carried out from March 4 to 22, but new investors were also served and included in the group of investors.
The capital increase was carried out on a commission basis (best effort basis) as part of a subscription offer in Switzerland. There was no official trading in subscription rights during the subscription period. With a subscription ratio of four to one, 694,856 shares were reportedly subscribed at an issue price of CHF 110.66 each. This means that there are a total of around 3.47 million shares in circulation, which are traded over the counter. The new shares will be paid out on March 28, 2018.
"Successfully raising new capital in a very competitive market is not a matter of course," says Hans R. Holdener, CEO and Managing Partner of Helvetica Property. "This makes me all the more proud of the high demand for the HSC fund from professional investors, especially new investors."
The proceeds from the issue will be used to further expand the portfolio. The funds will be invested in the short term, as the fund has already secured properties and also has an acquisition pipeline, the statement continues. HSC invests in properties with value appreciation potential in Switzerland's most important economic areas. The aim is to have a broadly diversified portfolio in terms of regions, types of use, property sizes and tenant mix. (ah)
