Ina Invest becomes first company to list on SIX in 2020
Ina Invest has listed its shares on the Swiss Stock Exchange (SIX), making it the exchange’s first company listing in 2020. The opening price was CHF24.30 per share, resulting in a market capitalization of CHF215 million.
The shares of Ina Invest, which were distributed to Implenia shareholders in the context of the spin-off of parts of Implenia’s development portfolio, and the new shares from the rights offering, were traded at SIX for the first time today.
Existing Implenia shareholders received one subscription right for every Implenia share held after close of trading on 2 June 2020 to subscribe for new shares in Ina Invest to be issued in a capital increase. The new shares were offered to the existing Implenia shareholders at a ratio of seven new shares for every 25 subscription rights held. The issued share capital of Ina Invest was increased by 5,172,160 new registered shares at an issue price of CHF22.42 per shares. With its listing, Ina Invest is complementing the Standard for Real Estate Companies and brings the number of companies listed on SIX in this segment to 17.
Marc Pointet, CEO of Ina Invest, says: "With the listing of Ina Invest as a standalone company we create a new, unique player in the Swiss real estate market. I am convinced of the significant potential Ina Invest has to offer and look forward to realising it together with my colleagues.”
Jos Dijsselhof, CEO of SIX, adds: “I am delighted that Ina Invest is opening the IPO season 2020 on our exchange and decided to benefit from the advantages of a public listed company in order to realize its growth targets. In these extraordinary times, this is an IPO with a great signal effect and further proof of the strength of the Swiss capital market.”