Swiss property company Jelmoli has completed the separate listing of its Athris unit on the Swiss stock exchange. In a statement this week, the company said the listing, which was in line with its business plan, has boosted the group's combined market capitalisation to approximately CHF 2.05 bn (EUR 1.35 bn). This compares to Jelmoli's market capitalisation of CHF 1.82 bn one day before the listing. Athris, which was created to invest in listed and non-listed companies, holds cash and cash equivalents of close to CHF 500 mln (EUR 330 mln).
Swiss property company Jelmoli has completed the separate listing of its Athris unit on the Swiss stock exchange. In a statement this week, the company said the listing, which was in line with its business plan, has boosted the group's combined market capitalisation to approximately CHF 2.05 bn (EUR 1.35 bn). This compares to Jelmoli's market capitalisation of CHF 1.82 bn one day before the listing. Athris, which was created to invest in listed and non-listed companies, holds cash and cash equivalents of close to CHF 500 mln (EUR 330 mln).
Georg von Opel, Chairman of Athris, said the company 'can prudently invest a large portion of free cash resources in potentially undervalued companies for the purpose of achieving above-average returns for shareholders.'
Athris is an investment company that was created two years ago when Jelmoli decided to split into a property company (Jelmoli) and a holding company (Athris). Athris shares have been distributed to the shareholders of Jelmoli in the form of a dividend. Athris aims to achieve an above-average return on investment in the long term by investing globally in listed and non-listed companies offering potential for sustainable added value.
The company also holds significant stakes in non-listed companies including Seiler Hotels Zermatt AG, Molino AG and Beach Mountain AG.
