Varia US Properties AG, has completed a capital increase to reinforce its institutional investor base and to further enhance its portfolio in the US by acquiring attractive properties.
542,105 new registered shares of Varia will be issued at an issue price of CHF 38 from the authorized capital, each with a nominal value of CHF 1.00. Based on article 2.3 of the Articles of Association of the Company, the Board of Directors has been authorized to increase the share capital at any time until November 13, 2018, by issuing of a maximum of 665,871 registered shares at market price, whilst excluding shareholder’s subscription rights.
- Completion of capital increase with gross proceeds of CHF 20.6 million
- 542,105 new registered shares at a price of CHF 38 per share issued from authorised capital
- Wolf Property Holding, a Luxembourg based investment vehicle, becomes Varia US
- Properties AG’s second largest shareholder with 7.52% of the total number of shares
- Proceeds will be used to further enhance the portfolio in the US
- First day of trading of new shares will be on 16 October 2017
The Company has allocated the new shares in a private placement. All of the 542,105 new registered shares have been subscribed by Wolf Property Holding. The gross proceeds from the issue amounts to CHF 20.6 million. The funds from the capital increase are to be used to further enhance the Company’s portfolio and to benefit from the strong investors’ demand for appealing real estate investments. The implementation of the transaction will be assisted by Engelwood Global Services.
This placement increases Varia’s share capital from CHF 6,658,710 to CHF 7,200,815. The first day of trading of new shares on SIX Swiss Exchange is on 16 October 2017.
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