- Issue will take place between 14 and 25 March 2022 on a best-efforts basis
- Payment date of 1 April 2022
- Subscription ratio of 1:1 and a maximum of 1 441 705 new units, equating to a maximum issuing volume of CHF 150 million
The real estate fund Swiss Prime Site Solutions Investment Fund Commercial is conducting a rights issue for a maximum of 1 441 705 new units, to take place on a best-efforts basis between 14 and 25 March 2022, 12:00 noon (CET). Each existing unit will be assigned one subscription right. The issue price payable will be CHF 103.49 net. The payment date for the fund units will be 1 April 2022. There will be no official trading in the subscription rights during the subscription period, but they can be freely transferred and traded. During a pre-commitment period running until 11 March 2022, investors will have the opportunity to benefit from a discounted issue commission before the subscription period starts. Graduated discounts will also be granted for higher subscription volumes. Investors can claim the partial reimbursement of their issue commission by submitting a form in writing to the fund management company by 22 April 2022 at the latest.
The issue proceeds will be used to further expand the high-quality property portfolio. Specifically, an attractive, broadly diversified acquisition pipeline including off-market deals on Core+ properties with a total volume of around CHF 200 million has been built up.
A presentation will take place at 2:00 pm on Monday, 7 March 2022. It will be held in hybrid form: investors can attend in person at the Prime Tower or join the online video webcast. Simultaneous interpreting into French will be provided.
Fund portrait
The Swiss Prime Site Solutions Investment Fund Commercial contains 13 properties with a combined value of CHF 221 million. The fund pursues an anticyclical investment strategy focusing on commercial properties in good to very good locations (AB–BA approach) throughout Switzerland. The investment focus is on broad diversification, high cash flow stability and economically established locations.
Summary of issue details
Planned maximum number of new units | 1 441 705 units |
Subscription period | 14 to 25 March 2022, 12:00 noon (CET) |
Issue price per unit | 103.49 |
Subscription ratio | 1:1 |
Subscription rights trading | There will be no official trading in the subscription rights during the subscription period, |
Formula for calculating the subscription right price | Market maker’s average closing price (bid price) for the period from 14 to 23 March, less the issue price; cannot, however, be less than zero. |
Payment date | 1 April 2022 |
Valor / ISIN | 113 909 906 / CH1139099068 |
Use | The issue proceeds will be used to further expand the high-quality property portfolio. |
Legal form | Contractual real estate fund for qualified investors (Art. 25 et seq. CISA) |
Investor base1 | Qualified investors within the meaning of Art. 10 para. 3 and 3ter of CISA in conjunction with Art. 4 paras. 3–5 and Art. 5 paras. 1 and 4 FinSA |
Custodian bank | Banque Cantonale Vaudoise (BCV) |
Valuation experts | PricewaterhouseCoopers AG, Zurich |
Fund management | Swiss Prime Site Solutions AG |
Portfolio management | Swiss Prime Site Solutions AG |
Tradability | Daily, over-the-counter trading through BCV/PropertyMatch and Lienhardt & Partner Privatbank Zürich AG |
1) Subject to fund contract amendment coming into force that was announced on 25 January 2022 and published on Swiss Fund Data.
If you have any questions please contact:
Fabian Linke, Business Development & Fundraising
Tel. +41 58 317 17 98, fabian.linke(at)sps.swiss
Andrea Schaller, Media Relations
Tel. +41 58 317 17 51, andrea.schaller(at)sps.swiss