Varia Europe Properties AG, a Swiss-domiciled company that conducts tailored investment strategies within European real estate markets, has successfully completed its capital increase from 11,981,945 to 28,512,619 registered shares listed on BX Swiss AG. The new shares were offered and sold at a price of CHF 1.80 per share, achieving gross proceeds of approximately CHF 30 million. The capital increase was conducted by means of a rights offering and subsequent public share offering. The proceeds will be used by Varia Europe Properties AG to further expand within their core real estate markets in Italy and Spain and to enter new markets as well as to potentially implement new investment strategies. REYL & Cie SA acted as Lead Manager on the offering.
The listing and first day of trading of the new shares on BX Swiss and the delivery of the new registered shares occurred on 13 December 2019.
Baker McKenzie represented Varia Europe Properties AG on all legal aspects of the capital increase. The Baker McKenzie team consisted of Matthias Courvoisier, Alexander Wyss, Yves Mauchle, Beau Visser and Jan Lusti.