Fundamenta Real Estate plans capital increase
The issue could be worth up to CHF 73 million, including an expansion option.
The Board of Directors of Fundamenta Real Estate AG has approved a capital increase. A volume of around CHF 50.0 million is to be achieved by issuing up to just under 3 million shares. There is also an option to increase the target volume to a total of CHF 73.0 million in the event of strong demand. «To date, the company has already secured investment commitments from six firm underwriters totaling CHF 41.9 million, which also corresponds to the minimum size of the capital increase,» the company said. The subscription ratio is 7:1, i.e. seven shares held entitle the holder to subscribe for one new share. The subscription price of CHF 17.00 is 4.1% below the average share price (VWAP) of the last 60 days and 2.9% below the closing price on October 22.
Fundamenta intends to use the net proceeds primarily to finance the project pipeline and for acquisitions. The subscription period for existing shareholders begins on October 27 and the placement period ends on November 4. (aw)
