Cronos Immo Fund: Capital increase in sight
Cronos Finance announces an issue for the Cronos Immo Fund. The subscription period is scheduled to start at the end of August.
Cronos Immo Fund, which focuses on residential real estate in western Switzerland, intends to use the proceeds from the capital increase to finance the buildings in its portfolio as well as the acquisition of new properties for which negotiations are underway or about to be concluded. It also intends to use the fresh money to repay mortgage debt in order to reduce the debt ratio.
According to fund management company Cronos Finance, a "best effort" issue of up to 333,715 new units is to be made, with ten old units entitling the holder to subscribe to one new unit. The subscription period will run from Aug. 30 to Sept. 10, 2021, with payment scheduled for Sept. 17.
Cronos Finance intends to announce the issue price with the publication of the issue prospectus. Trading of subscription rights on organized markets is not planned. (ah)
