Fresh money for the PSREF
Patrimonium Swiss Real Estate Fund (PSREF), as announced in June this year, is conducting a capital increase from September 4 to September 18, 2019, which is expected to raise CHF 70 million for the real estate fund.
As announced by the company, 19 existing shares entitle the holder to subscribe to two new shares. The issue will be carried out on a commission basis as part of a public rights offering; official rights trading will take place on the SIX Swiss Exchange from September 4 to 16. A maximum of 512,814 new shares will be issued. Unsubscribed shares may not be issued, which may result in a change of the issue amount.
The issue price as of payment amounts to CHF 136.74. It is based on the net asset value as of March 31, 2019 (after distribution) of CHF 131.19 per unit, plus accrued or budgeted income until September 27, 2019 and including an issuing commission in favor of the fund management company, the custodian bank and/or the distributors of 2%. The valuations of the properties have been updated by the independent valuation experts as of the year-end closing on March 31, 2019.
The dividend for the 2018/2019 financial year - CHF 3.85 per unit - was distributed before the subscription period. The payment of the new shares will take place on September 27, 2019. The effective number of newly issued shares will also be announced on the same day.
According to the fund management, the proceeds from the issue will be used to repay debt financing, finance ongoing projects and further expand the portfolio. (bw)
