Alrov Real Estate is postponing the IPO in Zurich of Swiss operations


The issuance of the Swiss subsidiary of Alrov Real Estate, which was planned to take place in Zurich: a week after the publication of theprospectus Ahead of the IPO in Zurich, Alrov Real Estate of Alfred Akirov today updates that it is postponing the move due to market conditions – and that it will re-examine the IPO. The announcement sharply lowers the share of Alrov Real. “On the Tel Aviv Stock Exchange.

Read more in Calcalist:

The subsidiary in question is Afik Suisse, which owns income-producing real estate mainly in the office and retail sectors. According to preliminary estimates published by Alrov Real Estate, the company aimed to raise 200 million Swiss francs (NIS 754 million) and a value between 695 and 778 million Swiss francs (2.62 to NIS 2.93 billion). Alrov Real Estate holds 77.8% of Afik Suisse’s share capital and in the event of an IPO, it would fall to a holding rate of 55.4%.

What do you think of Alrov Real Estate?

Strong buy Purchase wait on sale Strong sale

Afik owns 24 income-producing properties in Switzerland and has hardly been affected by the Corona crisis. Its rental income increased by 5% in the first half of 2020 and amounted to 27.3 million Swiss francs. However, net profit was cut by 60% and amounted to 11.1 million Swiss francs, mainly due to a reduction in value by the appraisers. God-FFO In the first half (operating cash flow), it amounted to 15.2 Swiss francs, against FFO Annual of 29.3 million Swiss francs in 2019.

The IPO is a move that Alrov Real Estate and its minority partners in Afik Suisse, the Greenbaum family, have been promoting for years. As far as is known, one of the family members, Roni Greenbaum, serves as Afik’s chairman, Akirov and the Greenbaum family agreed in a joint agreement that they would work to carry out the issue in question on the Swiss stock exchange.

Alfred Akirov Photo: Amit Shaal

Source link by,7340,L-3851738,00.html

*The article has been translated based on the content of Source link by,7340,L-3851738,00.html
. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!


Please enter your comment!
Please enter your name here