Helvetia Swiss Property Fund plans capital increase
Helvetia Asset Management is planning a CHF 170 million capital increase of the Helvetia (CH) Swiss Property Fund and intends to use it for a large portfolio purchase.
According to Helvetia, the fund management company is considering the purchase of a real estate package with a market value of CHF 229.5 million. It comprises eight properties from the portfolio of Helvetia Swiss Life Insurance Company. An exemption permit from Finma pursuant to Article 63 (4) CISA has already been granted for the transaction. The properties with the Core and Core plus profile are located in seven cantons and have high earnings and value stability, according to Helvetia.
The issuance of new shares in the amount of CHF 170 million to finance the transaction is planned for March 28.
Billion mark and SIX listing in sight
As of September 30, 2022, the fund's real estate portfolio consisted of 39 properties with a market value of CHF 862.8 million. It increases to CHF 1.1 billion as a result of the purchase. The goal of a listing on the SIX Swiss Exchange was thus within reach, Helvetia says. The listing is planned after a further capital increase. (aw)
