Epic Suisse plans to raise 200m Swiss francs from IPO
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[ZURICH] Commercial real estate company Epic Suisse AG said on Monday it wanted to raise around 200 million Swiss francs (S$300.8 million) in gross proceeds by issuing new shares in an initial public offering on SIX Swiss Exchange.
The company said its real estate portfolio was valued at 1.3 billion francs at the end of June and it wanted to use proceeds from the IPO to finance future acquisitions, development projects, capital spending and the redemption of debt.
It said it would pay out a fixed dividend of 2.60 francs per share for 2020 and targeted distribution of over 80 per cent of funds from operations thereafter. The listing is planned for the coming months, depending on market conditions, Epic said.
Reuters had reported the IPO plan last week.
REUTERS
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