Foncipars: UBS fund announces capital increase
The issue is to be completed by May and generate fresh funds of CHF 156 million.
UBS Fund Management (Switzerland) AG, as fund manager of the «UBS (CH) Property Fund - Léman Residential «Foncipars», is planning a capital increase with subscription rights in the region of CHF 156 million for the period April/May. Further details are to be announced in mid-April. However, the fund management company expressly reserves the right to postpone the issue «depending on market developments».
The fresh funds will be used to purchase properties, finance renovations and construction projects and repay debt financing. The fund invests exclusively in French-speaking Switzerland, primarily in residential real estate. The focus is on the cities of Geneva and Lausanne and their agglomerations.
