Nova Property increases capital for real estate funds
Nova Property Fund Management AG has completed a capital increase for its Swiss Central City Real Estate Fund. Funds totaling 82.7 million francs were raised. They are to be used to expand the portfolio.
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Nova Property has successfully completed a capital increase for its Swiss Central City Real Estate Fund, the company acting as fund management company informs in a release . During the capital increase carried out from May 25 to June 4, a total of 760,414 new shares were issued to existing shareholders and new investors at a subscription price of 108.80 francs each. A new share could be acquired for every three subscription rights.
The capital increase was "significantly oversubscribed", explains Nova Property in the announcement. In total, it brought in new funds totaling 82.7 million francs for the Swiss Central City Real Estate Fund. Nova Property intends to use the funds to further expand the property portfolio. The fund, which is traded over the counter by Bank J. Safra Sarasin, holds real estate in central locations throughout Switzerland.
