Successful IPO of Ina Invest Holding
Ina Invest was listed on the SIX Swiss Exchange for the first time on June 12. The offer price per new Ina Invest Holding share was CHF 22.42.
On Friday, 12 June 2020, the shares of Ina Invest Holding AG were distributed to the shareholders of Implenia AG as a dividend in kind. The distribution completes the spin-off of part of Implenia's real estate portfolio into Ina Invest AG ("Ina Invest"). This is a subsidiary which, after completion of the remaining steps of the spin-off, will be held approximately 57 percent by Ina Invest Holding AG and approximately 43 percent by Implenia AG.
Ina Invest will raise gross proceeds of CHF 116 million through the capital increase (net proceeds: approximately CHF 109 million), which will primarily finance the realization of the development portfolio in Switzerland with which the new company will start. In addition, Ina Invest plans to expand its investment portfolio in the Swiss real estate market, the companies said.
The offer price of the new Ina Invest shares from the rights issue and the share placement had been set at CHF 22.42, which corresponds to the net asset value (NAV) per share (based on a valuation by Wüest Partner as of March 31, 2020). After listing, the market capitalization was CHF 215 million - with an opening price of 24.30 per share, as reported by SIX Swiss Exchange. (bw)
