Cronos Immo Fund announces capital increase
Cronos Finance intends to carry out a capital increase for the Cronos Immo Fund in June.
According to Cronos Finance SA, headquartered in Pully (VD), up to 553,908 new shares of the fund will be issued on a "best effort" basis. Three old shares entitle the holder to subscribe to one new share; there will be no rights trading.
The subscription period is scheduled to run from June 7 to 19, 2019. Cronos intends to announce the issue price when the prospectus is published.
The proceeds of the issue are to be used to finance the portfolio expansion of the Cronos Immo Fund: Negotiations are currently underway to acquire new buildings to be financed by the capital increase. It is also planned to repay mortgage debt in order to reduce the debt ratio. The fund invests primarily in residential properties in Swiss cities, with a geographical focus on western Switzerland. (ah)
