Erres: Capital increase will be worth 290 million
The capital increase of Edmond de Rothschild Real Estate SICAV will be smaller than announced in June. The fund will use the money to finance projects and purchases.
The announced capital increase of Edmond de Rothschild Real Estate SICAV (Erres) will amount to CHF 290 million. In June, the real estate fund had still announced a sum of CHF 420 million (IB reported). The fund's board of directors justified the new volume on the basis of macroeconomic developments. The subscription period runs from August 29 to September 9, 2022, and the new shares are to be paid on September 22.
The capital increase will be used for the following investments:
- the construction of five new projects in Thônex, Geneva, Bülach, Nyon and Lausanne for an amount of CHF 130.6 million.
- the payment of the balance for the acquisition of a real estate company with 13 residential buildings in Geneva, Nyon and Rolle valued at CHF 44.8 million
- the secured acquisition of three residential buildings in Geneva for CHF 80.3 million
- and the reduction of debt.
According to the fund, nearly 2.3 million new shares are to be offered at an offer price of CHF 126.55 each. Anleger, the new Shares im Countervalue From at least CHF 2 million, can, according to the data a Partial repayment the Output Commission in Height From to at 0.5 percent apply. The subscription ratio is 6:1, with one subscription right allocated to each current share. (aw)