Baloise: Swiss Property Fund plans issue in August
The fund's next capital increase is coming a little earlier than originally announced and is expected to raise up to CHF 127 million.
The fund management company Baloise Asset Management Ltd is carrying out a capital increase for the Baloise Swiss Property Fund from August 19 to August 27, 2024. The planned proceeds of up to CHF 127 million will be used to acquire up to six properties. The measure is intended to help "further rejuvenate and diversify the portfolio", as the fund management company writes in a press release. The real estate portfolio in question is currently owned by Baloise Life Ltd. The Finma approval required for the transaction has now been obtained.
The planned capital increase will be carried out according to the "best effort" approach. Six existing subscription rights entitle the holder to subscribe to one new share, with a maximum of around 1.2 million shares being issued. The issue price of CHF 106.81 is based on the net asset value on March 31.
In an initial announcement of the capital increase, a purchase price of CHF 125 million for the six properties and September as the date of the issue were mentioned (IB reported). (aw)
