The issue of 2,291,149 new shares raised 289.9 million francs, bringing the number of new shares in circulation to 16,038,043.
The capital increase offered to investors, between August 29 and September 9, 2022, of Edmond de Rothschild Real Estate SICAV – Swiss (ERRES) has been fully subscribed. Investors approved of the strategy put in place and confirmed the outlook offered by the fund.
The issue of 2,291,149 new shares raised 289.9 million francs, bringing the number of new shares in circulation to 16,038,043. The release and listing of the new shares took place on September 22, 2022.
The purpose of this capital increase is to finance:
- The construction of five new projects in Thônex, Geneva, Bülach, Nyon and Lausanne for an amount of 130.6 million francs,
- The payment of the balance of the acquisition of a real estate company of 13 residential buildings located in Geneva, Nyon and Rolle for an amount of 44.8 million francs,
- The secured acquisition of three residential buildings in Geneva for an amount of 80.3 million francs,
- The reduction of the debt level to 26%.
Edmond de Rothschild REIM (Suisse) SA intends to pursue the development of the ERRES portfolio in a sustainable manner and guarantee an attractive and sustainable dividend policy for its investors.
