The offering of new shares in Swiss Properties Invest A/S was successfully completed and fully subscribed as the Company received subscription orders for more than DKK 217 million
MUST NOT BE PUBLISHED, DISTRIBUTED, OR SUPPLIED OR PARTICULAR, DIRECTLY OR INDIRECTLY, IN OR TO UNITED STATES, AUSTRALIA, CANADA OR JAPAN.
This company announcement does not constitute a prospectus, an offering circular or other offering document. No one should purchase or subscribe for shares in Swiss Properties Invest A/S (“Swiss Properties Invest” or the “Company”), unless this is done on the basis of the information provided in the prospectus, which has been published by the Company in connection with the offering and admission of such shares for trading on Nasdaq First North Growth Market Denmark. The prospectus is available on the Company’s website.
Company Announcement No. 2-2022
Copenhagen, 6. July 2022
Result of the Offering
Today, Swiss Properties Invest A/S announces the result of the Offering of shares in connection with the admission to trading of the Company’s shares on Nasdaq First North Growth Market Denmark – see Company Announcement No. 1-2022 of 16. June 2022.
The offer period closed on 4. July 2022, at 23:59 (CET). The Company received subscription orders for a total of 2,024,871 shares, and the Offering of 2,000,000 shares at an offer price of 107.50 DKK per share was thus fully subscribed – equal to gross proceeds of DKK 215 million.
As stated in the prospectus Swiss Properties Invest intends to continue its acquisition of attractive commercial properties in Switzerland with the purpose of renting out commercial space, operating and optimising its portfolio of commercial properties with long term shareholder value creation as the Company’s primary goal.
In addition to the 1,213,682 shares allocated to the 45 investors in the pre-subscription, the Company received 182 orders for a total of 811,189 shares (DKK 87,2 million) in connection with the public offering. Thus, the Company received orders for a total of 2,024,871 shares (DKK 217.7 million) equal to an oversubscription of the total Offering of 1.2 %.
“We knew from the start that we had chosen a difficult period for an IPO. Therefore, we are both very proud and very pleased so see our investors showing us the confidence and trust by subscribing for all shares offered.” says CEO, Swiss Properties Invest AG, Keld Østergaard.
“And it is absolutely fantastic that we can welcome the 227 co-owners of Swiss Properties Invest. We are now looking forward to getting started with the actual work which is investing in commercial properties in Switzerland and creating good, long-term returns for our investors. And all potential investors are welcome to join us from mid-July, when it will be possible to both buy and sell the Swiss Properties Invest share on Nasdaq First North Growth Market Denmark”, says Keld Østergaard.
The first day of trading at Nasdaq First North Growth Market Denmark is expected to be 14. July, 2022, under the ticker “SWISS”. The temporary ISIN code, DK0061805744, will be merged with the permanent ISIN code, DK0061805660, which is expected on 15. July 2022.
Summary of the Offering
- As a result of the Offering, Swiss Properties Invest A/S issues 2,000,000 new shares of nominally DKK 100 each at a share price of DKK 107,50 per share.
- The gross proceeds for the Company are DKK 215,000,000 before costs related to the Offering.
- Shares have been allocated to a total of 227 investor depositaries.
- The ‘free float’, which is the percentage of the share capital held in public hands, constitutes 73 % of the share capital after the completion of the Offering.
- All pre-subscribed shares have been allocated 100 %.
- All subscription orders above DKK 250,000 have received individual allocation.
- For all remaining orders at and above 75 shares:
- All subscription orders above 75 shares have been allocated 47 % of the shares requested.
- The shares will be delivered electronically against payment to investors’ accounts with VP Securities A/S (“VP Securities”). The shares will be delivered under the temporary ISIN DK0061805744 with VP Securities A/S. The temporary ISIN will not be applied for trading on Nasdaq First North Growth Market Denmark but will only be registered in VP Securities for the purpose of subscribing for new offer shares.
- The date of payment and settlement of the shares is 11. July 2022.
- Registration of the capital increase with the Danish Business Authority (in Danish: Erhvervsstyrelsen) is expected to take place on 12. July 2022, subject to settlement of the Offering.
- After completion of the Offering, the share capital of the Company will be increased from nominally DKK 22,500,000 corresponding to 225,000 shares of DKK 100 to nominally DKK 222,500,000 corresponding to 2,225,000 shares.
- First day of trading on Nasdaq First North Growth Market Denmark in the permanent ISIN, DK0061805660, is expected to be 14. July 2022.
- The temporary ISIN code, DK0061805744, is expected to be merged with the permanent ISIN code, DK0061805660, following and subject to settlement of the Offering and registration of the capital increase with the Danish Business Authority.
Liquidity provider
Swiss Properties Invest A/S has entered into a liquidity provider agreement with Jyske Bank A/S. The service will begin on 14. July 2022 and the initial term for the agreement is three (3) months with an ongoing one (1) month termination notice thereafter. The intention of the agreement is to increase liquidity in the share and fulfilling the requirements set by Nasdaq Copenhagen.
ABOUT SWISS PROPERTIES INVEST
Swiss Properties Invest, which was founded on 8. October 2021, is the Danish holding company of the wholly owned subsidiary Swiss Properties Invest AG (CHE-422.631.240), which were founded on 30. November 2021. The purpose of Swiss Properties Invest AG is to own, operate, optimize, and develop a portfolio of attractive commercial properties for renting out commercial space in selected regions (cantons) in Switzerland with the aim of creating shareholder value to its investors.
CONTACT INFORMATION
Swiss Properties Invest A/S
Kirsten Sillehoved, CEO
Mobile (+45) 52 40 71 52
E-mail kirsten@swisspropertiesinvest.dk
Schleppegrellsgade 8
2200 Copenhagen N
Denmark
CERTIFIED ADVISER
Baker Tilly Corporate Finance
Gert Michael Mortensen
Mobile (+45) 30 73 06 67
E-mail gmm@bakertilly.dk
Poul Bundgaard Vej 1
2500 Valby
Denmark
IMPORTANT INFORMATION
This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by Swiss Properties Invest A/S in any jurisdiction where such offer or sale would be unlawful and the announcement and the information contained herein are not for distribution or release, directly or indirectly, in or into such jurisdictions, including but not limited to, the United States, Australia, Canada or Japan.
This announcement does not constitute an offering circular, prospectus or other offer document and nothing herein contains an offering of securities. No one should purchase or subscribe for any securities in Swiss Properties Invest A/S unless this is done on the basis of information in the prospectus published by the Company in connection with the Offering and admission of such securities to trading on Nasdaq First North Growth Market Denmark, which is available on the Company's website.
Neither the existing shares of Swiss Properties Invest A/S nor the Offer Shares have been, or will be, registered under the United States Securities Act of 1933, as amended. Neither the existing shares nor the Offer Shares may be offered or sold, directly or indirectly, in or into the United States or to persons residing there. Moreover, the Offering is not made to persons resident in Australia, Hong Kong, Japan, Canada, New Zealand, South Africa, Switzerland, or Singapore or to persons whose participation would require the publication of a prospectus, registration or other measures. Any application to subscribe for the Offer Shares in violation of these restrictions may be void. Persons who receive copies of this announcement are required to inform themselves about, and comply with, such restrictions. Any failure to comply with the restrictions described may result in a violation of securities regulations.
Certain statements in this announcement constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and the Company's anticipated or planned financial and operational performance. The words "targets", "believes", "expects", "aims", "intends", "plans", "seeks", "will", "may", "might", "anticipates", "would", "could", "should", "continues", "estimates" or similar expressions or the negative forms thereof, identify certain of these forward-looking statements. Other forward-looking statements can be identified in the context in which the statements are made. The Company has based these forward-looking statements on its current views with respect to future events and financial performance. By their nature, forward-looking statements are based on certain assumptions and projections on future events and financial performance, which involve a number of risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. Actual results are likely to differ from those set forth in the forward-looking statements. Any forward-looking statements speak only as at the date of this document and neither the Company nor any of its respective affiliates, directors, officers, employees, advisors, or any other person is under any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not and may not rely on these forward-looking statements.
