Novavest plans capital increase

Novavest Real Estate AG plans to issue up to 635,000 new registered shares with a nominal value of CHF 28.55 each, according to a statement. The capital increase is to be carried out in the period from November 30 to December 11, 2020 - while preserving the subscription rights of existing shareholders. It will be carried out from the company's existing authorized capital, which was approved by the Annual General Meeting in May of this year. The exact conditions are to be announced shortly before the subscription period.

Novavest intends to use the proceeds to expand its real estate portfolio through acquisitions of residential as well as residential and commercial properties. (ah)