Akara Diversity Fund seeks fresh capital
The Akara Swiss Diversity Property Fund PK is conducting a capital increase starting September 24. The fund aims to raise up to CHF 197 million in the process.
The reason for the issue is a "well-filled real estate pipeline", according to Akara Funds AG. The proceeds from the issue will be used to invest in real estate assets and projects throughout Switzerland and to repay short-term debt.
Between September 24 and November 9, a maximum of 179,520 new units at a price of CHF 1.098 net each of the Akara Diversity PK are to be issued. Ten existing units entitle the holder to subscribe to four new units; the issue will be carried out on a "best effort basis" as part of a rights offering to investors in Switzerland.
Unsubscribed units will not be issued, which may reduce the maximum number of new units to be issued, Akara Funds said. The fund management company plans to inform investors of the final number of new units to be issued no later than Nov. 23. The payment will then take place on November 30. (ah)
