Business · Companies · 11 hrs ago
UBS Mixed Urban fund raises 183 million francs
UBS’s Direct Mixed Urban property fund raised about 183 million Swiss francs through a capital increase.
The fund completed the fundraising announced at the end of September, and all new shares were taken up.
Much of the money is planned for purchases and construction projects in the regions of Zurich, Bern and Geneva.
The remaining funds will support property acquisitions, renovations and construction projects, as well as reduce borrowing.
The offer, which gave existing investors the right to buy new shares, ran from October 22 to 30.
The money will help fund the fund’s property plans and reduce debt.
UBS Direct Mixed Urban completed a capital increase that raised about 183 million Swiss francs.
All newly issued fund units were subscribed, UBS said.
Most of the proceeds are intended for acquisitions and construction projects in the Zurich, Bern and Geneva regions.
The remaining funds will support property purchases, renovations and construction projects, and reduce external financing.
The rights issue took place from 22 to 30 October.
- Who
- UBS Direct Mixed Urban, a UBS real estate fund.
- What
- It completed a capital increase, raising about 183 million Swiss francs.
- When
- The rights issue ran from 22 to 30 October; UBS announced the completion on Wednesday evening.
- Where
- The planned acquisitions and construction projects are in the Zurich, Bern and Geneva regions.
- Why
- Most proceeds are intended for acquisitions and construction projects; other funds will support property purchases, renovations and construction, and reduce external financing.
This story does not have two clearly opposing sides.
The fund conducted the capital increase with subscription rights.
UBS announced that all new units had been subscribed and the fund had raised about 183 million Swiss francs.
- Amount raised
- About 183 million Swiss francs
- New units
- All subscribed
- Rights issue
- 22–30 October
- Main planned regions
- Zurich, Bern and Geneva
- Use of proceeds
- Acquisitions, construction projects, property purchases, renovations and reduction of external financing