Fundamenta Plans Capital Increase to Finance Project Pipeline
Fundamenta Real Estate has announced a capital increase of up to 73 million francs. The net proceeds are to be used primarily for investments in the existing project pipeline, targeted new acquisitions, strengthening the company's equity base, and general corporate purposes, according to a statement released on Thursday.
The company plans to issue 2,94 million new shares at a subscription price of 17 francs per share. The target volume amounts to around 50 million francs. In addition, there is an option to increase the total volume to up to 73,0 million francs through the issuance of up to 4,29 million new shares if demand is strong. The subscription ratio is 7 to 1, meaning that shareholders will receive one subscription right for every seven shares held. No trading of subscription rights will take place.
According to the statement, investment commitments totaling 41,9 million francs have already been secured in advance, corresponding to the minimum size of the capital increase. The six cornerstone investors are domiciled in Switzerland. Furthermore, a 180-day lock-up period has been agreed upon.