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Successful capital increase for Edmond de Rothschild Real Estate SICAV

Edmond de Rotschild Real Estate SICAV - 26/09/2017


The capital increase operated by Edmond de Rothschild Real Estate SICAV (ERRES) from 4 to 15 September 2017 was a great success. The objective of 954,645 new shares was reached, demonstrating investors’ confidence in the fund’s management.

 

The new shares were paid up on 22 September 2017, bringing the total number of outstanding shares to 7,637,164.The purpose of ERRES’’ capital increase was to continue growing the fund by selectively purchasing top-quality properties and making investments designed to add value to the fund’s existing properties. In accordance with previous undertakings, the CHF 109 million raised by the capital increase has been committed under three notarial deeds which have already been signed for: a new residential complex in the Vevey/Montreux area;a new commercial building with a 20-year lease in the Canton of Geneva;a planned residential complex, also in the Canton of Geneva.The balance of the amount raised by the capital increase will be used for current renovations on properties in the fund’s portfolio and as part of a strategic debt-drawdown plan.The management team of Orox Asset Management intends to continue expanding ERRES’ portfolio in a sustainable manner and guarantees an attractive dividend for the fund’s investors.The Board of Directors and the Manager thank you again for your confidence and wish you all the best for the resumption of business after the summer.

 

Press release


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