The Patrimonium Swiss Real Estate Fund will carry out a capital increase of CHF 70 million from 4 September 2019 until noon (CET) on 18 September 2019. Nineteen existing shares will entitle holders to purchase two new shares. A maximum of 512,814 new shares will be issued. The issue price is CHF 136.74 per share.
The capital increase, which was announced on 14 June 2019, will be carried out in September. Nineteen (19) existing shares will entitle holders to purchase two (2) new shares for CHF 136.74 per share. This issue price was determined in accordance with the Fund agreement and is based on the Fund’s net asset value of CHF 131.19 per share (after the dividend payment) at 31 March 2019, together with dividends to be paid up to 27 September 2019; it also includes an issue commission of 2.00% for the fund manager, the custodian bank and/or the distributor. The property valuations were updated by independent experts at year-end on 31 March 2019.
The issue will be conducted on a best-efforts basis through a public offering. Subscription rights will be traded on the SIX Swiss Exchange from 4 to 16 September 2019. Unsubscribed shares will not be issued, which means the issue amount may change. The new shares will be released on 27 September 2019, when the actual number of newly issued shares will also be communicated.
The proceeds from the funding round will be used to repay loans, to fund ongoing projects and to expand the Fund’s portfolio.
The dividend of CHF 3.85 for the 2018/2019 financial year will be paid before the subscription period begins.