Swiss Prime Site Solutions is carrying out the 12th capital increase for the Akara Diversity PK real estate fund (specialising in residential and commercial properties). The subscription period will begin on Monday, 6 May and end on Friday, 31 May 2024 at 12:00 noon. The payment date for the fund units will be 28 June 2024. Existing investors will be able to exercise their subscription rights in this capital increase.
12th capital increase Akara Diversity PK
The 12th capital increase of Akara Diversity PK aims to secure a maximum issuing volume of 51’978 new units. Thirty-three (33) existing units entitle to subscribe to one (1) new unit at the issue price on the payment date of CHF 1’140.00 each (including ancillary costs and issue commission). The issue will be carried out on a best-effort basis under a subscription offer to investors who are eligible under the terms of the fund contract. Unsubscribed units will not be issued.
Existing investors can exercise their subscription rights in respect of the capital increase. If any subscription rights remain unexercised, new investors will have the opportunity to participate in the fund.
Use of the capital
The capital raised will be used mainly to expand the portfolio in line with the strategy. Exclusive transaction opportunities have already been secured. In addition, ongoing projects are financed and, where possible, the borrowed capital ratio is reduced further.
Akara Diversity PK fund profile
Akara Diversity PK is open to tax-exempt pension funds and social insurance and compensation funds registered in Switzerland. Investment funds may also invest if their investor base consists solely of the above-mentioned tax-exempt institutions domiciled in Switzerland. The valuation of the shares is based on the NAV without premiums/discounts, which reduces volatility. Investment is made in existing properties and development and construction projects with residential or commercial usage types (50%, ±15 percentage points) throughout Switzerland. It aims to achieve a steady and attractive distribution, long-term value growth and broad diversity. Most properties are held directly.
Akara Diversity PK: summary of the issue details
Issuing volume |
Maximum of 51’978 units
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Subscription period
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6 May to 31 May 2024, 12:00 noon (CET)
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Issue price per unit
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CHF 1’140.00
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Calculation of the issue price |
In accordance with section 13.3 of the Fund Contract, the issue price of the units (rounded to one Swiss franc) is based on the net asset value per unit. This is comprised of:
- NAV as at 31.12.2023 (after deduction of the distribution of CHF 34.50 dated 26.04.2024)
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1'103.53
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- Purchase of the forecast change in NAV from 1 January to 28 June 2024*
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16.31
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- Ancillary costs (0.50%), based on the forecast NAV as at 28 June 2024
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5.60
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- Issue commission (1.30%), based on the forecast NAV as at 28 June 2024
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14.56
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* The net asset value as at 28 June 2024 includes the assumed and forecast changes in value and income of the properties held by the real estate fund since the determination of the NAV as at 31 December 2023 to 28 June 2024.
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Subscription ratio |
33:1
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Payment date
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28 June 2024
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Valor / ISIN
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New units: 33 349 032 / CH 033 349 032 1
Subscription rights: 134 436 709/ CH 134 436 709 4
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Utilisation of issue proceeds |
The capital raised will be used mainly to expand the portfolio in line with the strategy. In addition, ongoing projects are financed and, where possible, the borrowed capital ratio is reduced further.
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Legal form
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Contractual real estate fund for qualified investors (Art. 25 et seq. CISA)
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Investor base
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Tax-exempt 2nd pillar and pillar 3a institutions domiciled in Switzerland (in particular pension funds, institutions within the meaning of the Vested Benefits Act, supplementary institutions, security funds, investment foundations, welfare funds, financing foundations, bank foundations under pillar 3a), tax-exempt social insurance and compensation funds domiciled in Switzerland (in particular unemployment, health, old-age, disability and survivors' insurance funds, excluding licensed insurance companies) and investment funds, provided that their investors consist exclusively of the above-mentioned institutions.
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Custodian bank
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Banque Cantonale Vaudoise (BCV), Lausanne
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Valuation experts
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PricewaterhouseCoopers AG, Zurich
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Auditor
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KPMG AG, Zurich
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Fund management
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Swiss Prime Site Solutions AG
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Portfolio management
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Swiss Prime Site Solutions AG
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- 12th capital increase Akara Diversity PK
- Subscription ratio of 33:1 with a maximum of 51’978 new units and an issue volume of around CHF 59.3 million
- Subscription period: 6 to 31 May 2024 with payment date of 28 June 2024
Swiss Prime Site Solutions AG
Swiss Prime Site Solutions is a group company of the listed Swiss Prime Site AG. The real estate asset manager, which has more than CHF 8.4 billion in assets under management and a pipeline of CHF 1.1 billion, develops tailor-made services and real estate solutions for clients. Swiss Prime Site Solutions AG has been approved as a fund manager by FINMA pursuant to Art. 2 para. 1 (d) in conjunction with Art. 5 para. 1 FinIA.
THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND SHOULD NOT BE DISTRIBUTED TO UNITED STATES PERSONS OR PUBLICATIONS WITH A GENERAL CIRCULATION IN THE UNITED STATES. THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER OR INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES. IN ADDITION, THE SECURITIES OF SWISS PRIME SITE AG HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT FROM REGISTRATION UNDER OR AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES LAWS.
News Source: Swiss Prime Site Solutions
