Cronos Immo Fund plans capital increase
The Cronos Immo Fund intends to use the funds from a new issue to make acquisitions and reduce its leverage.
In particular, a "best effort" issue of new shares in the amount of approximately CHF 30 million is planned, with one new share being issued for every 20 old ones. The subscription period will start on November 28 and end on December 9. The issue price will be announced at a later date.
The proceeds of the issue will be used to finance the buildings in the portfolio, for the acquisition of new properties for which negotiations are underway or close to completion, and for the repayment of mortgage debt in order to reduce the current leverage ratio.
At the same time, it was decided to issue additional shares worth almost CHF 10 million by way of contributions in kind.
The fund is managed by Cronos Finance SA in Pully. (aw)
(Visited 389 times, 1 visits today)
