Swiss Prime Site raises CHF 300 million to further expand its high-quality property portfolio
Ad hoc announcement pursuant to Art. 53 LR PRESS RELEASE Zug, 25 February 2025
Swiss Prime Site AG (“Swiss Prime Site”, SIX: SPSN) has successfully raised CHF 300 million in gross proceeds through the placement of 2'926'829 new registered shares (the “New Shares”) at a placement price of CHF 102.50 per New Share. René Zahnd, CEO of Swiss Prime Site, said: “With today’s successful share placement, Swiss Prime Site is best positioned to further profitably grow its property portfolio while maintaining a conservative financing approach with a strong equity base. The fresh capital will enable us to seize the strong momentum we are observing in the transaction markets. We thank our shareholders and investors for the support and confidence in Swiss Prime Site.” Use of proceeds The net proceeds are expected to be deployed for property acquisitions within the next 9-12 months; they may be used for general corporate purposes within this timeframe. The transaction is expected to be accretive to Funds from Operations I (FFO I) per share upon full deployment and accretive to NAV immediately. Resulting change in share capital The New Shares will rank pari passu with the existing shares and carry full dividend rights upon settlement, including for the financial year 2024. The Board of Directors has proposed an increased dividend of CHF 3.45 per share to the Annual General Meeting on 13 March 2025, with payment expected on 25 March 2025. The New Shares are expected to be listed and admitted to trading on SIX Swiss Exchange on 26 February 2025. Payment and settlement are expected to take place on 27 February 2025. Swiss Prime Site agreed to a lock-up expiring 180 calendar days after the listing of the New Shares, subject to customary exceptions. For more information, please follow this link: Placement If you have any questions, please contact: |