Edmond de Rothschild: Erres plans large capital increase
Up to CHF 390 million is to be raised for the "Swiss" sub-fund through an issue in the summer.
In July and August, the Board of Directors of Edmond de Rothschild Real Estate Sicav plans to increase the capital of the Swiss sub-fund by between CHF 325 million and CHF 390 million. The amount corresponds to a subscription ratio of one new share for five old shares. The funds will be used to finance new acquisitions that have already been secured. The fund also intends to use the proceeds to invest in its development and restructuring projects and reduce the debt ratio.
The exact amount is to be determined by the end of May "depending on the development of market conditions and the pipeline secured by the manager". (aw)
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