Swisscanto (CH) Real Estate Fund Swiss Commercial: Conditions for capital increase
Press Release from 9. September 2020
Swisscanto (CH) Real Estate Fund Swiss Commercial makes public the conditions of its announced capital increase.
Swisscanto (CH) Real Estate Fund Swiss Commercial today made public the conditions of issue for its announced capital increase of up to CHF 45 million. The new units can be subscribed from 11 to 22 September 2020 at an issue price of CHF 104.53 per unit. The capital increase will be carried out while maintaining the subscription rights of existing shareholders.
With this capital increase, Swisscanto (CH) Real Estate Fund Swiss Commercial is continuing its responsible growth strategy. The fund has an attractive investment pipeline, which it will use to expand its existing portfolio in line with its strategy. The proceeds of the issue are earmarked for the financing of existing obligations and the repayment of borrowed capital.
Overview of conditions
| Key data | Details |
|---|---|
| Newly issued units | Max. 429,967 units |
| Previous number of units | 4,299,674 |
| Subscription ratio | 10:1, ten (10) existing units entitle the holder to subscribe to one (1) new unit |
| Allocation of subscription rights | The cut-off date is 10 September 2020 (after close of trading); from 11 September 2020, the units will be traded ex subscription rights |
| Subscription period | 11 September 2020 – 22 September 2020, 12.00 noon CET |
| Issue price | CHF 104.53 net per unit (NAV per 30 June 2020 + accrued income + issuing commission) |
| Issuing commission | 2% |
| Swiss security no. / ISIN | Unit: 11 195 919 / CH0111959190 Subscription right: 52 164 086 / CH0521640869 |
| Rights trading | Official subscription rights trading on 11–18 September 2020 on SIX Swiss Exchange AG |
| Settlement date | 23 September 2020 |
| Dividend rights | The new unit certificates bear full dividend rights for the 2020 financial year |
| Use of the proceeds from the issue | The proceeds from the issue will be used for the financing of existing obligations and the repayment of borrowed capital |