July 8, 2019 / 5:17 AM / 8 days ago

BRIEF-Baloise Swiss Property Fund To Carry Out Capital Increase Of Around CHF 200 Mln

July 8 (Reuters) - Baloise Holding AG:

* BALOISE ANNOUNCED THAT BALOISE SWISS PROPERTY FUND WAS EXAMINING ACQUISITION OF A REAL ESTATE PORTFOLIO WITH A MARKET VALUE OF AROUND CHF 194 MILLION

* FUND MANAGEMENT COMPANY, BALOISE REAL ESTATE MANAGEMENT LTD, IS NOW CARRYING OUT A CAPITAL INCREASE OF AROUND CHF 200 MILLION IN ORDER TO FUND ACQUISITION OF REAL ESTATE PORTFOLIO. SUBSCRIPTION PERIOD STARTS ON 12 AUGUST 2019.

* NEW SHARES WILL BE ISSUED ON A BEST-EFFORTS BASIS AS PART OF SUBSCRIPTION OFFER IN SWITZERLAND

* A MAXIMUM OF 1,964,285 NEW SHARES WILL BE ISSUED, THEREBY INCREASING NUMBER OF SHARES IN CIRCULATION FROM 2,750,000 TO A MAXIMUM OF 4,714,285 SHARES

* ANY UNSUBSCRIBED SHARES WILL NOT BE ISSUED, THUS REDUCING ISSUE AMOUNT

* FUND MANAGEMENT COMPANY RESERVES RIGHT TO ACQUIRE ANY UNSUBSCRIBED SHARES AT END OF SUBSCRIPTION PERIOD OR PLACE THEM ON MARKET WITH REQUIRED DILIGENCE TOGETHER WITH CUSTODIAN BANK OR THIRD PARTIES

* BALOISE REAL ESTATE MANAGEMENT LTD WILL USE ISSUE PROCEEDS FOR ACQUISITION AGAINST CASH OF A REAL ESTATE PORTFOLIO WITH 20 CORE / CORE PLUS PROPERTIES OF BALOISE INSURANCE LTD, BASEL AND BALOISE LIFE LTD, BASEL IN FAVOUR OF REAL ESTATE FUND

* REAL ESTATE PORTFOLIO BEING ACQUIRED COMPRISES RESIDENTIAL PROPERTIES AND MIXED USE RESIDENTIAL AND BUSINESS PROPERTIES, MOST OF WHICH ARE LOCATED IN CONURBATIONS WITH MORE THAN 100,000 RESIDENTS SPREAD OVER A TOTAL OF NINE CANTONS Source text for Eikon: Further company coverage: (Reporting by Berlin Speed Desk)

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