Baker McKenzie has advised Fundamenta Real Estate AG, a Swiss based real estate company, on the listing of its shares on SIX Swiss Exchange after its move from BX Swiss to SIX Swiss Exchange. The re-IPO includes an authorized capital increase whereby 5,857,840 new shares were issued, resulting in net proceeds of around CHF 80.44 million. The first day of trading of the new shares as well as the existing shares on the SIX Swiss Exchange was December 6, 2018.
Zürcher Kantonalbank acted as lead manager and Luzerner Kantonalbank AG acted as co-lead man-ager in this transaction. Fundamenta Real Estate AG has granted a greenshoe option of 450,000 shares to the lead manager, which option can be exercised within 30 calendar days after the first trading day of the shares on the SIX Swiss Exchange.
The net proceeds of the capital increase will be used for the acquisition of further real estate in ac-cordance with the investment regulations, for targeted investments in connection with the planning and realization of existing development projects, the intended development and repositioning of existing properties (implementation of the property strategy) and the consolidation of the balance sheet structure.
Fundamenta Real Estate AG is one of the few stock corporations listed on a Swiss stock exchange that specializes primarily in investments in residential real estate in the medium rental segment. The company focuses its investments on properties with sustainable and stable rental income potential, good development prospects and/or optimization potential.
Baker McKenzie acted as legal counsel to Fundamenta Real Estate AG in connection with the re-IPO and the capital increase. The Baker McKenzie team comprised Dr. Marcel Giger (Partner, Capital Markets), Samuel Marbacher (Partner, Real Estate), Dr. Philip Spoerlé (Associate, Capital Markets), Cora Schmid (Trainee Lawyer, Capital Markets) and Zarina Fueglister (Trainee Lawyer, Transactions).