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Swiss hospital real estate company Infracore made its debut on the Swiss stock exchange, but its shares slipped below the initial public offering (IPO) price during early trading. The company opened at its offer price before declining by around 1.5%, reducing its market valuation. The IPO comprised both newly issued shares and shares sold by an existing shareholder. Infracore plans to use the fresh capital to expand its healthcare real estate portfolio and repay shareholder loans, while its key shareholders will continue to hold significant stakes in the company.
Swiss hospital real estate company Infracore made its stock market debut on the Swiss stock exchange, with its shares trading below the IPO offer price during early trading.
The shares opened at the offer price of 54 Swiss francs but later declined by around 1.5% to 52.6 Swiss francs, valuing the company at approximately 826 million Swiss francs (USD 1.03 billion).
The listing marks an important step for the healthcare real estate owner, which owns nearly 50 healthcare properties across Switzerland with a combined portfolio value of around 1.4 billion Swiss francs. The company's largest tenant is Swiss Medical Network, the country's second-largest private hospital operator, providing a stable source of rental income for its portfolio.
The IPO consisted of a combination of newly issued shares as well as shares sold by existing shareholder Medical Properties Trust, allowing the company to raise fresh capital while providing a partial exit for one of its major investors.
Infracore stated that it intends to use gross proceeds of around 200 million Swiss francs mainly to expand its healthcare property portfolio and repay shareholder loans. The fundraising is expected to strengthen the company's balance sheet while supporting future acquisitions and growth in Switzerland's healthcare real estate market.
Despite the weak trading debut, major shareholders Medical Properties Trust and Aevis Victoria will continue to hold significant ownership stakes in the company following the public offering, reflecting their continued investment in Infracore's long-term business.
Healthcare real estate has continued to attract investor interest in recent years due to stable occupancy levels and long-term lease agreements with healthcare operators. However, IPO performance across European markets has remained mixed amid cautious investor sentiment and broader market volatility.
Source Reuters
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