“This is an important moment for our company. We welcome our new shareholders and look forward to continuing the success of EPIC,” commented Arik Parizer.
- EPIC Suisse AG, a growing Swiss real estate company, today announces the successful pricing of its initial public offering (IPO) and the start of trading on the SIX Swiss Exchange
- The issue price was set at CHF 68 per share
- The banking consortium successfully placed a volume of 2,686,567 shares, which corresponds to a market capitalization of CHF 693 million (before exercise of the over-allotment option)
- EPIC will generate gross proceeds of approximately CHF 183 million prior to exercise of the over-allotment option (and approximately CHF 203 million upon full exercise of the over-allotment option)
- The Company plans to use the funds raised from the IPO primarily to fund its existing development projects and potential future acquisitions, after repaying bank loans and shareholder loans.
- Investors benefit from an attractive dividend policy with a fixed dividend of CHF 3.00 per share for the 2022 financial year and a payout policy of at least 80% of funds from operations (FFO) thereafter
- EPIC shares will start trading on the SIX Swiss Exchange from today, May 25, 2022, 09:00 CEST under the ticker symbol EPIC.
Roni Greenbaum, Co-Founder and Executive Chairman of EPIC, said: “We are pleased with the successful pricing of our IPO and the interest in EPIC from national and international investors. This is of course a big step in the history of our company. Together with Alfred Akirov from the Alrov Group, I will be fully committed to further supporting EPIC’s growth trajectory in the long term.”
Arik Parizer, CEO of EPIC, comments: “This is an important moment for our company. We welcome our new shareholders and look forward to the continued success of EPIC. By expanding our investor base, we are laying the foundation for the future development of our high quality portfolio and the execution of our existing large and promising development pipeline.”
The banking syndicate successfully placed 2,686,567 shares for sale (reissued by the Company as part of an ordinary capital increase) at an offer price of 68 Swiss francs per share, representing a total market capitalization of 693 million Swiss francs (before exercise of the over-allotment option). . As part of the placement, the syndicate of banks may allot a maximum of 298,507 over-allotment shares for stabilization purposes. These would be issued by the company from authorized share capital. The over-allotment option can be exercised in whole or in part and at once at any time within 30 calendar days from the first trading day. Alrov Properties & Lodgings Ltd. and the Greenbaum family1, founder and major shareholder, did not sell any shares during the IPO and remains fully invested and committed to EPIC for the long term. Major shareholders have agreed to a 12-month blocking period after the first day of trading. The free float of EPIC is currently 26.4% (before exercise of the over-allotment option).
Credit Suisse and Zürcher Kantonalbank are acting as Joint Global Coordinators and Joint Bookrunners for the IPO. Swiss Finance & Property AG acts as co-manager.
IPO metrics and schedule
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