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Thursday, 25.04.2024, 08:09
Eften Real Estate Fund III postpones planned new share emission
BC, Tallinn, 26.09.2018.
Print version
Print versionIn connection with the low supply of suitable real estate properties with an appropriate opportunistic and value-added investment strategy for Eften Real Estate Fund III in the Baltic states, the fund's management board has decided not to convene a general meeting of shareholders in October this year and postpone its planned new share emission until the spring of 2019.
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Last week, the fund announced the start of the construction
works of the Hortes gardening center in the Tahesaju commercial district in
Tallinn. For the construction of the new Hortes gardening center, the fund has
the necessary equity and no additional capital is needed, the company told the
stock exchange.
If, however, at the end of 2018 or early 2019, suitable
investment objects should be available, the fund has an option to agree a
temporary bridge financing which will be refinanced with equity in the later
new share issue. The fund intends to proceed with an additional share issue in
the second quarter of 2019.
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