Varia US Properties AG ("Varia US"), whose shares are listed on SIX Swiss Exchange, successfully completed an increase of its share capital. The 1,125,000 new shares were issued by Varia US following international private placements addressed to strategic and institutional investors. The shares were offered and sold at a price of CHF 35.95 per new share. The corresponding gross proceeds of the capital increase amounted to CHF 40.4 million. The newly issued shares were listed on SIX Swiss Exchange as of 2 December 2020 and delivered to investors on 3 December 2020.
Through the capital increase, Varia US reinforces its institutional investor base. It plans to use the proceeds from the capital increase to enhance the Company’s portfolio in the US further.
Varia US is a Swiss-based real estate company investing in U.S. multifamily housing and focuses on secondary and tertiary markets. Established in 2015. Varia US acquires, holds, transitions and repositions properties in the boundaries of U.S. metropolitan regions.
REYL & Cie Ltd acted as lead manager for the private placements and as paying agent for the capital increase.
Baker McKenzie acted as transaction counsel. Baker McKenzie's team was led by Matthias Courvoisier, Alexander Wyss and Yves Mauchle and further included Andrea Bolliger, Beau Visser, Benedikt Hadorn (all Zurich) as well as Stephanie Magnus (Singapore), Adam Farlow (London), Dmitry Dembich (Moscow) and Greg McNab (Toronto).