UBS Direct Urban postpones planned capital increase
Actually, the fund UBS (CH) Property Fund - Direct Urban wanted to raise CHF 73 million at the end of October. This is postponed "until further notice".
UBS Fund Management is postponing the capital increase for the real estate fund UBS (CH) Property Fund - Direct Urban "until further notice". The reason is the current increased volatility in the listed Swiss real estate market. "The fund management is closely monitoring developments on the capital markets and will decide at a later date on the implementation of a possible capital increase for UBS Direct Urban," UBS wrote in a media release.
The capital increase with subscription rights in the order of approximately CHF 73 million had been announced for the end of October/beginning of November. (aw)
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