- Strong demand for Varia shares from Swiss and international institutional as well as domestic private investors oversubscribing offered shares.
- Overall, a total of 3,097,074 offered shares have been issued at the offer price of CHF 35. Assuming the over-allotment option of up to 464,562 shares will be exercised in full, the Company shall issue a total of 3,561,636 new registered shares, corresponding to an issuance and placement volume of CHF 124.7 million and implying a market capitalization for Varia of CHF 233.1 million.
- The free float amounts to approximately 40% if the over-allotment option is exercised in full.
- Varia shares (ticker symbol: VARN) will be traded on SIX Swiss Exchange from today.
Patrick Richard, executive member of the Board of Directors of Varia US Properties
AG: “We are delighted with the successful placement of our shares and the strong investor interest in our Company. Swiss and international institutional as well as domestic private investors are convinced by our robust and unique business model benefiting from the main trends in the U.S. residential property market. We welcome our new shareholders and look forward to building on the broader shareholder base for the further successful development of our portfolio realising our promising acquisition pipeline.”
Key data
| Listing | SIX Swiss Exchange (Standard for Real Estate Companies) |
| Ticker symbol | VARN |
| Swiss security number | 30 528 529 |
| ISIN | CH 030 528 529 5 |
| Nominal value | CHF 1.00 per registered share |
| Offer price | CHF 35 per share |
| Offering | Base offer of 3,097,074 shares. Over-allotment option of up to 464,562 shares |
| Outstanding shares | The aggregate number of shares in issue after the offering will be 6,194,148 shares (or, if the over-allotment option is exercised in full, 6,658,710 shares) |
The Varia shares are expected to be included in the SPI and its relevant sub-indices and the sector specific indices SXI Real Estate and SXI Real Estate Shares as of the first day of trading.