Issue of Helvetia fund was fully subscribed
Helvetia (CH) Swiss Property Fund has raised CHF 170 million in its second capital increase. The fund is scheduled to go public next year.
Helvetia Asset Management reports a successful capital increase of the Helvetia (CH) Swiss Property Fund: The issue in the amount of CHF 170 million was 100 percent subscribed, the asset manager announces.
The proceeds from the issue will be used to acquire a portfolio with a high residential content and a market value of CHF 229.5 million from Helvetia Swiss Life Insurance Company. In addition, debt capital of around CHF 60 million will be raised to finance the deal.
Helvetia (CH) Swiss Property Fund will have 47 properties with a market value of CHF 1.1 billion after the purchase on April 1, 2023. This makes it one of the largest unlisted real estate funds in Switzerland. Helvetia Asset Management is targeting a listing on the SIX Swiss Exchange in the first half of 2024. (ah)
