Infracore shares fall below offer price in Swiss debut (updated)
UPDATE 1-Infracore shares fall below offer price in Swiss debut Adding detail in paragraphs 2 and 4-6, context in paragraphs 3
July 9 (Reuters) - Shares in Swiss hospital real estate company Infracore INFRACC.S fell around 1.5% below their offer price on their debut on the Swiss stock exchange on Thursday.
The stock opened at the offer price of 54 Swiss francs before slipping to 52.6 francs by 0743 GMT, valuing the company at about 826 million Swiss francs ($1.03 billion).
The company owns nearly 50 healthcare properties in Switzerland with a total value of around 1.4 billion Swiss francs. Its main tenant is Swiss Medical Network, the country's second-largest private hospital operator.
The listing included both newly issued shares and shares sold by major shareholder Medical Properties Trust MPT.N.
Infracore said it would use gross proceeds of around 200 million Swiss francs primarily to expand its property portfolio and repay shareholder loans.
Major shareholders Medical Properties Trust and Aevis Victoria AEVS.S will retain significant stakes following the IPO.
($1 = 0.8065 Swiss francs)
(Reporting by Maria Rugamer and Oliver Hirt, Editing by Linda Pasquini and Matt Scuffham)
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