Hiag receives 33 million from share placement
Hiag Immobilien Holding has placed 383,000 registered shares with investors at a price of CHF 86 each. The company intends to use the proceeds for the development of the portfolio and for acquisitions.
According to a statement by Hiag Immobilien Holding AG, the new shares were placed with "five well-known, mainly new institutional investors". They represent a total volume of 4.76% of the real estate company's outstanding capital and will be issued from the authorized share capital, excluding the subscription rights of existing shareholders.
The placement price of CHF 86.00 per share is based on the net asset value (NAV) according to Swiss GAAP FER as of June 30, 2020, Hiag further announced. The company will receive around CHF 33 million gross from the transaction.
Payment, listing and admission of the new shares to trading on the SIX Swiss Exchange are scheduled for October 29, 2020. As a result of the transaction, the free float of Hiag shares will increase by 3.1 percentage points to 35.7%.
Zürcher Kantonalbank acted as sole lead manager in the transaction. (ah)
