Ina Invest Holding starts trading on SIX Swiss Exchange: the advisors

At Implenia’s annual general meeting in March 2020, Implenia’s shareholders resolved to spin-off a part of Implenia’s development portfolio to create Ina Invest and subsequently distribute as a dividend in kind the shares of Ina Invest to Implenia shareholders. In parallel, Ina Invest has completed a rights offering, where Implenia shareholders were allocated subscription rights in proportion to their shareholdings in Implenia. Shares not taken up by Implenia shareholders were then subsequently sold to investors in a share placement.

Ina Invest launches its operations as a standalone company with a strong development pipeline of real estate properties in Switzerland. Following the capital increase in connection with the rights offering resulting in gross proceeds of approximately CHF 116 million, Ina Invest has the financial means to fund part of the development of its initial portfolio and to continue to seize growth opportunities in the Swiss real estate market. All 8,866,560 issued registered shares of Ina Invest with a par value of CHF 0.03 each are now listed and traded on SIX Swiss Exchange.

The teams

Bär & Karrer acted as legal and tax advisor to Implenia  and Ina Invest in the planning and implementation of this transaction. The team was led by Rolf Watter and included Nadina Duss and Frédéric Mancosu (both corporate/m&a), Annette Weber and Fabian Wild (both capital markets), Corrado Rampini, Charles Gschwind and Seline Amstutz (all real estate), Lukas Roesler (Financing) as well as Susanne Schreiber, Christoph Suter, Martin Leu and David Weimann (all tax).

NKF advised Credit Suisse as the sole bookrunner in connection with the transaction, which represents the first listing and admission to trading on SIX Swiss Exchange in 2020. The team was led by partners Philippe Weber (pictured left) and Thomas Brönnimann, working with counsel Christina Del Vecchio and junior associate Naomi Loretz (all capital markets).