Property fund launches new capital increase
Swiss Prime Site Solutions is launching the 15th capital increase for its Akara Swiss Diversity Property Fund PK. Around CHF 85 million is to be raised between 11 and 20 June. Subscription rights of existing investors will be prioritised.
The fund management of Swiss Prime Site Solutions is preparing a new short-term capital increase for the Akara Swiss Diversity Property Fund PK (Akara Diversity PK ). The Asset Management Division of Zug-based property company Swiss Prime Site announced in a press release that not all subscriptions were taken into account in the 14th capital increase completed in mid-May due to high demand. To rectify this situation, Swiss Prime Site Solutions intends to raise a further CHF 85 million. The subscription period for the 15th capital increase begins on 11 June and ends on 20 June.
The Akara Diversity PK is restricted to tax-exempt pension funds, social security and compensation funds domiciled in Switzerland and investment funds consisting of such funds. The new capital increase will be carried out while safeguarding the subscription rights of existing shareholders. The ownership of 25 existing shares entitles the holder to acquire one new share at the issue price of CHF 1148. If not all subscription rights are utilised, new investors will be eligible. The fund units are to be paid out on 27 June.
Swiss Prime Site Solutions intends to use the new funds raised to expand the fund’s property portfolio and finance ongoing projects. If possible, the debt ratio should also be further reduced, according to the press release.