Novavest plans another capital increase
Novavest Real Estate AG wants to expand its real estate portfolio. To this end, a new capital increase is to be carried out. The real estate company had only successfully completed a capital increase last December.
Novavest Real Estate AG would like to expand its portfolio of properties, the Zurich real estate company informs in a message . The necessary funds are to be brought in via a capital increase. Specifically, Novavest is planning to issue up to 642,619 new registered shares with a nominal value of CHF 26.90 each. The reference value was set at CHF 42.05 per share.
In the case of the capital increase planned for the period from June 14 to 23, existing shareholders of Novavest Real Estate AG will be granted a right to purchase one new share for every eleven registered shares already held. If all subscription rights are exercised in full and the capital increase is fully exhausted, the transaction volume will be around CHF 27 million, Novavest explains in the announcement.
Novavest had already successfully completed a capital increase last December. Investors subscribed to a total of 631,145 new registered shares at a subscription price of CHF 41.70 each with a nominal value of CHF 28.55. Novavest also used the funds raised in this capital increase of around CHF 26.3 million to expand its own real estate portfolio. At the end of May, the company then lowered the nominal value of its shares by 1.65 francs to 26.90 francs. The difference is to be paid out on June 8th.