CS REF Green Property seeks fresh capital
The real estate fund Credit Suisse Real Estate Fund (CS REF) Green Property is carrying out a capital increase with a volume of almost CHF 180 million.
A maximum of around 1.5 million new shares in CS REF Green Property are to be issued. The issue volume is therefore up to CHF 179.7 million. The issue price per payment is CHF 119.00 net and includes an issuing commission of 2.5%. According to a new estimate, the net asset value is CHF 115.81 per unit.
The issue will be carried out on a commission basis ("best-effort basis") as part of a public rights offering in Switzerland. The subscription period for the capital increase will run from October 28 to November 8, 2019, with one subscription right allocated to each existing unit. Twelve subscription rights will then entitle the holder to subscribe to one new share, Credit Suisse says.
An official rights trading will take place on SIX Swiss Exchange AG from October 28 to November 6, 2019. On November 13, 2019, the effective number of new shares to be issued shall be announced. The payment will take place on November 15, 2019.
The fund intends to use the proceeds from the issue to expand and diversify its real estate portfolio. (ah)
