UK markets closed
  • NIKKEI 225

    26,748.14
    -253.38 (-0.94%)
     
  • HANG SENG

    20,112.10
    -357.96 (-1.75%)
     
  • CRUDE OIL

    109.81
    -0.48 (-0.44%)
     
  • GOLD FUTURES

    1,863.60
    +15.80 (+0.86%)
     
  • DOW

    31,694.91
    -185.33 (-0.58%)
     
  • BTC-GBP

    23,390.01
    -710.56 (-2.95%)
     
  • CMC Crypto 200

    653.72
    -2.11 (-0.32%)
     
  • ^IXIC

    11,213.42
    -321.86 (-2.79%)
     
  • ^FTAS

    4,126.79
    -23.49 (-0.57%)
     

Property group EPIC Suisse plans Swiss IPO

·1-min read

ZURICH (Reuters) -Swiss property group EPIC Suisse AG plans to list its shares on the SIX Swiss Exchange within months subject to market conditions, it said on Monday.

EPIC's portfolio of 25 properties in the Lake Geneva and Zurich areas had a fair value of around 1.5 billion Swiss francs ($1.51 billion) as of the end of 2021, it said in a statement. Its IFRS net asset value was 578 million francs.

Credit Suisse and Zuercher Kantonalbank are joint global coordinators and joint bookrunners. Swiss Finance & Property AG is co-manager.

The primary offering of new shares was indicated at around 200 million francs worth of stock, a bookrunner said.

Israel-based Alrov Group, which holds nearly 78% of the stock, and the Greenbaum family with around 22% will not sell any shares in the IPO.

($1 = 0.9935 Swiss francs)

(Reporting by Michael ShieldsEditing by Paul Carrel and Silke Koltrowitz)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting