UPDATE 2-Switzerland's Infracore plans IPO for July 9, valuing firm at $1 billion

Medical Properties Trust, Inc.
Citigroup Inc.

Medical Properties Trust, Inc.

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Citigroup Inc.

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Adds comment from bookrunners in paragraph 4

By Oliver Hirt

- Switzerland's Infracore will start trading on the Swiss stock exchange on or around July 9, the healthcare real estate firm said on Tuesday, as it set the final price for its initial public offering at 54 Swiss francs a share.

Infracore said its IPO gives it a total market capitalization of about 826 million francs ($1 billion). It is expected to raise gross proceeds of around 200 million francs.

The firm intends to use proceeds to finance the acquisition of additional hospital properties and repay shareholder loans worth just over 55 million francs.

Bookrunners later in the day said the books were covered on the primary offering of 200 million francs as well as the 30 million franc greenshoe, suggesting demand was robust.

If demand exceeds supply, majority shareholder U.S.-based Medical Properties Trust MPT.N may sell shares from its own holdings. The second-biggest shareholder, Swiss investment company Aevis Victoria AEVS.S, aims to remain invested.

Infracore says it owns 47 properties in Switzerland worth about 1.4 billion francs. In the 2025 financial year, Infracore logged revenue of 66.1 million francs and a net yield of 4.5%.

Citigroup and Zuercher Kantonalbank are joint global coordinators and bookrunners of the IPO.

($1 = 0.8088 Swiss francs)