Swiss Central City: Green light for IPO
The fund management company Nova Property Fund Management can list the Swiss Central City Real Estate Fund on the SIX Swiss Exchange as planned. The first day of trading is scheduled for 13 December.
Nova Property Fund Management AG has announced that its listing application has been approved by SIX Exchange Regulation. This is "another important step towards the listing" of the Swiss Central City Real Estate Fund. The fund's units are expected to start trading on the exchange on 13 December 2021. With the listing, the fund is also expected to be included in the SXI Real Estate Broad and SXI Real Estate Funds Broad indices.
According to the fund management, the intention is to continue to expand the real estate portfolio, which currently has a market value of a good CHF 400 million, in a targeted and prudent manner. A distribution of CHF 2.50 per fund unit is envisaged for the 2021 financial year. With the continuous portfolio expansion and the completion of new projects, the distribution is expected to increase in the coming years.
The Swiss Central City Real Estate Fund invests in real estate assets in central locations throughout Switzerland. The fund is currently traded over-the-counter by Bank J. Safra Sarasin, which will ensure active market making of the fund units even after the listing. (ah)
