HSL Fund capital increase significantly oversubscribed

Press release December 03, 2021

Press release (PDF)

The capital increase for the HSL Fund carried out from November 16 to December 02, 2021 was successfully completed with issue proceeds of CHF 117.5 million. The capital increase was significantly oversubscribed which led to an expansion of the investor circle. A total of 1,028,366 new shares are issued at a net issue price of CHF 114.24 per share. The number of outstanding shares after the capital increase amounts to 2'742'310 shares. The payment will take place on December 06, 2021.

The capital increase was carried out on a commission basis (best effort basis) as part of a rights offering in Switzerland. The proceeds from the capital increase will enable the fund management company to complete the already secured purchase of residential properties with over 287 apartments in attractive locations valued at CHF 143 million. The purchase of these properties enables the expansion of the existing high-quality portfolio of the HSL Fund.

Salman Baday, Head Sales & Marketing, says: 'An offer this attractive with such a convincing pipeline has not been seen in the market for some time. Our investors have recognized this and support our growth strategy. Despite the exceptionally high demand it was possible to serve all investors with shares, if in some cases only to a limited extent.'

The HSL Fund shares are currently traded over-the-counter by Bank J. Safra Sarasin Ltd. For the financial year 2021, the fund management company plans to increase the distribution by 10% to approximately CHF 3.40 per share compared to the previous year. The listing of the fund on the SIX Swiss Exchange is planned by the end of 2022.

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Zurich, December 03, 2021 - The capital increase of the residential real estate fund Helvetica Swiss Living Fund (HSL Fund) was successfully completed. The fund will receive proceeds in the amount of approximately CHF 120 million.