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HIAG announces key data on capital increase

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HIAG Immobilien Holding AG / Key word(s): Capital Increase

02-Nov-2021 / 06:58 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

Ad hoc announcement pursuant to Art. 53 LR

NOT FOR PUBLICATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, THE UNITED KINGDOM, OR THE EUROPEAN ECONOMIC AREA OR IN ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION WOULD NOT BE IN COMPLIANCE WITH APPLICABLE LAWS AND REGULATIONS.

Media information

Media information (PDF)

Basel, 2 November 2021 - In its meeting on 1 November 2021, the Board of Directors of HIAG Immobilien Holding AG, based on the resolution of the Extraordinary General Meeting of 29 September 2021 to create approved share capital in the amount of a maximum of 1'700'000 shares, decided to issue a maximum of 1'686'600 new shares of HIAG Immobilien Holding AG with a nominal value of CHF 1.00 within the scope of a rights offering. The price range for the new shares of HIAG Immobilien Holding AG was set at CHF 94.00 to CHF 96.00. The subscription ratio for the public shareholders is 5:2: Five shares held will grant the right to purchase two new shares at the offer price. There will be no rights trading.The new shares carry full voting and dividend rights from the the fiscal year 2021 and are equal to the existing shares in all respects. Zürcher Kantonalbank is acting as Sole Lead Manager of the capital increase.

Rights offering and share placement

The cut-off date for the allocation of pre-emptive rights is 3 November 2021 after close of trading. The rights exercise period as well as the bookbuilding period for new shares not taken by existing shareholders will start on Thursday, 4 November 2021. The rights exercise period will end on Friday, 12 November 2021, 12:00 noon CET, the bookbuilding period will end on Monday, 15 November 2021, 12:00 noon CET. Rights not exercised will expire without compensation after the rights exercise period and will be at the disposal of the Board of Directors for free use in the interest of the Company. The final rights offer price, which will be identical to the placement price, and the final number of new shares are expected to be published on 16 November 2021 based on the outcome of the rights exercise and the bookbuilding process. The listing of the new shares of HIAG Immobilien Holding AG on the SIX Swiss Exchange (regulatory standard real estate companies) has been applied for. Trading in the new shares is scheduled to commence on Thursday, 18 November 2021.

Expected proceeds from the offering

Based on a rights offering respectively placement price in the middle of the price range, the Company expects net proceeds from the offering of approximately CHF 155.9 million. This amount has been calculated based on the assumption that shareholders either exercise their rights in full or that all new shares offered for which no rights have been exercised are placed with investors.

Commitment of the anchor shareholders

The anchor shareholders intend to participate in the rights issue with around 18% of their pre-emptive rights, which is expected to lead to an increase in the free float from currently just under 37% to approximately 45%. The shares not taken will be offered to existing shareholders and new investors as described earlier. In addition, the anchor shareholders, HIAG Immobilien Holding AG and its Board of Directors and Executive Committee, have committed to a lock-up period of 12 months after the listing of the new shares.

Use of proceeds and expected development of NAV

The proceeds from the capital increase are intended to be used to finance projects, reduce debt and realise acquisition opportunities for properties with long-term cash flow and value enhancement potential that add value to HIAG's portfolio.

HIAG expects the NAV to increase again in the second half of the fiancial year due to the remaining good business performance, the net proceeds from targeted sales of non-strategic properties and positive effects from revaluations.

Prospectus, key data and expected schedule of the capital increase

Copies of this prospectus can be downloaded from HIAG's website at https://www.hiag.com/en/investors/reporting-centre/ or are available free of charge at Zürcher Kantonalbank, IHKT, P.O. Box, 8010 Zurich, Switzerland (e-mail: prospectus@zkb.ch; phone: +41 44 292 20 11).

Key data

Stock exchange

SIX Swiss Exhange

Regulatory standard

Real estate companies

Ticker

HIAG

Swiss security number registered share

23951877

ISIN registered share

CH0239518779

Swiss security number offering right

113453045

ISIN offering right

CH1134530455

Price range of the subscription or placement price

CHF 94.00 bis CHF 96.00

Number of new shares

Maximum 1'686'600 Shares

Expected total number of shares issued after the capital increase

Maximum 10'119'600 Shares

Expected schedule

Cut-off date for allocation of pre-emptive rights

3 November 2021,
after close of trading

Start rights exercise period and bookbuilding

4 November 2021

End of rights offering period

12 November 2021,
12:00 noon CET

End of bookbuilding

15 November 2021,
12:00 noon CET

Publication of final subscription resp. placement price and definitive
number of shares offered

16 November 2021

Listing ang first trading day

18 November 2021

Settlement date

18 November 2021

Contacts

Marco Feusi

Rico Müller

Chief Executive Officer

Chief Financial Officer

T +41 61 606 55 00

T +41 61 606 55 00

marco.feusi@hiag.com

rico.mueller@hiag.com

HIAG Immobilien Holding AG

Aeschenplatz 7

4052 Basel

T +41 61 606 55 00

investor.relations@hiag.com

www.hiag.com

Financial calendar

3 November 2021

ZKB Swiss Equity & Real Estate Conference

13 January 2022

Baader Helvea Swiss Equities Conference

14 March 2022

Publication of Annual Report 2021

28 April 2022

Annual General Meeting

26 August 2022

Publication of Half-Year Report 2022

About HIAG
HIAG is a leading real estate company listed on the SIX Swiss Exchange that has a real estate portfolio with a total value of CHF 1.8 billion. Based on the real estate portfolio's land area of 2.7 million m² and current usable area of 467,000 m², HIAG has an outstanding development pipeline with an additional usable area of around 783,000 m² with 60 projects and an expected investment volume of around CHF 2.9 billion. The portfolio comprises 46 sites with well-developed office, commercial and logistics properties as well as selected residential properties in future-oriented growth regions of German and French-speaking Switzerland. HIAG generates a stable rental income from its real estate management activities and and creates long-term value potential through active portfolio management and the development of attractive destinations.

Disclaimer

This media release serves informational purposes and constitutes neither an offer to sell nor a solicitation or an advertisement to buy any shares of HIAG Immobilien Holding AG in any jurisdiction. This media release does not constitute a prospectus within the meaning of Article 35 et seqq. of the Swiss Federal Act on Financial Services. Investors should base their decision to purchase or execute subscription rights or to purchase shares of HIAG Immobilien Holding AG exclusively on the official prospectus, which will be available electronically and free of charge after publication. The shares described in the prospectus will publicly be offered in Switzerland only. In addition, investors should seek advice from their bank or their financial adviser. This media release and the information contained therein are not being issued in the United States of America, Australia, Canada, Japan, the United Kingdom, or the European Economic Area and must not be distributed within or to such countries or via publications with a general circulation in such countries.

This media release contains forward-looking statements such as projections, forecasts, and estimates. Such forward-looking statements are subject to certain risks and uncertainties which may cause actual results, performance, or events to differ materially from those anticipated in this media release. The forward-looking statements contained in this media release are based on the views and assumptions of HIAG Immobilien Holding AG as of this date and HIAG Immobilien Holding AG does not assume any obligation to update or revise this media release.


End of ad hoc announcement

Language:

English

Company:

HIAG Immobilien Holding AG

Aeschenplatz 7

4052 Basel

Switzerland

Phone:

+41 61 606 55 00

Internet:

www.hiag.com

ISIN:

CH0239518779

Valor:

A113S6

Listed:

SIX Swiss Exchange

EQS News ID:

1245271


 

End of Announcement

EQS Group News Service

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