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 placement will provide Swiss Prime Site with additional capital to realize its acquisition pipeline – in parallel to its continuous project developments – whilst maintaining its strong balance sheet with a Loan-to-Value ratio below 39%, as guided for the financial year 2025. The Company actively manages a tangible pipeline of transaction processes which, pursuant to current estimates, collectively are expected to generate annual rental income of more than CHF 17 million.

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 share capital of Swiss Prime Site will increase from CHF 154’615’092.00 to CHF 160'468'750.00 through the issuance of 2'926'829 New Shares each with a par value of CHF 2.00 against cash contributions.

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