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Screenshot of a breaking news alert e-mail from Q2 2017
Today, the shares of Varia US Properties AG have been listed in accordance with the «Standard for Real Estate Companies» and are traded on SIX Swiss Exchange for the first time.
The IPO consists of an offering of 3‘097‘074 newly issued registered shares of the Company with a nominal value of CHF 1.00 each. Additionally the Company has granted Bank Vontobel as the Sole Bookrunner an overallotment option of up to 464,562 shares. The opening price on SIX Swiss Exchange was CHF 37.00.
At this price, the placement volume corresponds to an amount of CHF 114.6 Million and a total market capitalization of CHF 229.2 Million.
Varia US Properties AG is a Swiss based real estate company exclusively investing in U.S. multifamily housing with a main focus on secondary and tertiary markets targeting the low to medium income population. The Company has been established in 2015 to acquire, hold and manage properties in the United States of America in order to secure rental income and value growth. Varia has concluded an asset management agreement with Stoneweg SA, an external asset manager with an experienced investment team and international real estate assets under management amounting to approximately CHF 600 million. The Company benefits from the long-standing expertise of Stoneweg’s management in Swiss and international real estate and the proximity to investors as well as its local presence in the United States and its broad network of partners.