Allen & Overy LLP advised Credit Suisse AG, UBS AG and Zürcher Kantonalbank AG as joint lead managers on the capital increase of the real estate investment company Swiss Prime Site AG.
The capital increase by way of a rights issue was aimed at promoting the Swiss company’s growth strategy. A total of 5,455,601 new registered shares were offered with a nominal value of CHF 15.30 each.
By the end of the subscription period on 3 December 2012, 12.00 noon (CET), 99.6% of the subscription rights had already been exercised and thus more than 5.4 million new registered shares had been subscribed. Trading in the new shares is expected to commence on 6 December 2012 on SIX Swiss Exchange.
Swiss Prime Site AG intends to use the net proceeds from the capital increase for investments in ongoing developments and new building projects as well as for alterations and conversions of existing properties. In addition, further investments in the Swiss real estate market are planned.
The Allen & Overy team was led by partner Gernot Wagner (US Corporate Finance, Frankfurt) and comprised partner Stephen Fiamma (US Tax, London) as well as associates Rebecca Emory, Rita Thomas (both US Corporate Finance, Frankfurt) and Stefka Kavaldjieva (US Tax, London).
