Swiss Central City Real Estate Fund seeks fresh money
Nova Property Fund Management intends to carry out a capital increase of up to CHF 82.7 million for the Swiss Central City Real Estate Fund. The proceeds are to be used to finance acquisitions.
A maximum of 760,414 new units in the Swiss Central City Real Estate Fund are to be issued in the course of the issue at a price per unit of CHF 108.80 (incl. 1.5% issuing commission and 0.5% incidental costs). According to the fund management company Nova Property Fund Management, this will increase the number of units in circulation to a maximum of around 3.04 million.
The capital increase is to be carried out from May 25 to June 4, 2021, on a "best effort basis" by way of a rights offering to the investors in Switzerland admitted under the fund contract. One subscription right will be allocated to each existing unit, and three subscription rights will entitle the holder to subscribe to one new fund unit. On June 8, the fund management intends to announce the result of the issue and the effective number of new units to be issued. Payment will take place on June 15.
The issue proceeds of up to 82.7 million are to be used for the further expansion of the real estate portfolio. Corresponding, very attractive acquisition properties are already in the pipeline, according to the fund management. (ah)
