Swiss Central City Fund: Listing before the end of the year
Nova Property Fund Management intends to have the Swiss Central City Real Estate Fund listed as a public fund on the SIX Swiss Exchange before the end of the year.
According to Nova Property Fund Management, the listing application will be submitted to the SIX in the next few days. The financial supervisory authority Finma has already approved the conversion of the fund into a mutual fund. The first trading day of the Swiss Central City Real Estate Fund on the SIX Swiss Exchange is scheduled for 13 December 2021. The fund is currently traded over-the-counter by Bank J. Safra Sarasin. It will also ensure active market making of the fund units after the listing, the fund management company said.
With the listing, the fund is also expected to be included in the SXI Real Estate Broad and SXI Real Estate Funds Broad indices. From Nova Property Fund Management's perspective, this promises increased liquidity and visibility for the fund's units.
Capital increase brings in 84.5 million
The capital increase of the Swiss Central City Real Estate Fund, which ran from 25 October to 3 November, met with strong demand from existing and new investors, according to the fund management. The issue was significantly oversubscribed and the investor base was broadened. A total of 760,414 new units were issued at a price of CHF 111.10 each. After the capital increase, 3.8 million fund units are in circulation.
The proceeds of the issue in the maximum amount of CHF 84.5 million are to be used for the further expansion and diversification of the portfolio. (ah)
