Novavest completes capital increase
Novavest Real Estate AG received CHF 27 million as part of its capital increase. The money is to be used to finance acquisitions.
Novavest Real Estate AG announced that the capital increase from the existing authorized capital was successfully implemented in the planned issue volume. The official subscription rights trading took place on the SIX Swiss Exchange from 14 to 23 June 2021. With a subscription ratio of 11:1, 642,619 new registered shares were subscribed or placed as planned at a subscription price of CHF 42.05 each. As part of the capital increase, the shareholder base was further expanded, Novavest added.
The new registered shares are to be paid up on 30 June, and the first trading day for the new shares is scheduled for 1 July. With the completion of the capital increase, the company's share capital now amounts to approximately CHF 207.44 million, divided into approximately 7.7 million registered shares with a par value of CHF 26.90 per share, the real estate company announced.
Novavest intends to use the proceeds from the capital increase to continue its growth strategy focused on residential real estate in Switzerland and to expand its real estate portfolio. (ah)
