Deals & Cases | 20 Nov 2017
Froriep advised stock exchange listed Novavest Real Estate AG (TICKER: NREN) on further share capital increase
On 29 March 2017, the ordinary annual shareholders’ meeting of Novavest Real Estate AG approved the creation of an authorised share capital. Mid-September, also due to oversubscription of the previous ordinary share capital increase of the company (see announcement of 27 June 2017), the board of directors decided to make use of the authorised share capital and to increase the company’s share capital by issuance of up to 594’247 additional shares at an aggregate issue volume of CHF 22.6 million to existing shareholders and new investors. The share capital increase was again oversubscribed and was executed on 10 November 2017. The new shares were listed on 13. November 2017 at BX Berne eXchange.
FRORIEP Legal AG acted as Novavest Real Estate AG’s legal counsel for all legal work in connection with the preparation and execution of the share capital increase and the listing of the new shares on the BX Bern eXchange. The FRORIEP team consisted of partner Dr. Catrina Luchsinger Gähwiler and counsel Dr. Mark Montanari (Corporate, Capital Markets, including stock exchange regulations) as well as senior associate Evelien Zemp (Corporate, Notarial Services).