UBS Siat: Issue with 100% subscription quota
The fund has raised CHF 177 million. The fresh funds will flow primarily into project developments.
The «UBS (CH) Property Fund - Swiss Residential »Siat'" has completed its latest capital increase with the issue of just over 1 million new units. This corresponds to a subscription ratio of 100%, according to UBS Fund Management. The announced issue target of CHF 177 million was achieved.
A large portion of the issue proceeds is earmarked for the recently completed redevelopment of the «Tivoli Garten» residential property in Spreitenbach as well as total refurbishments in Zurich, Basel, Winterthur and Neuchâtel. The remaining issue proceeds will be used «for the purchase of additional properties, the financing of renovations and construction projects as well as
the repayment of debt financing».
