Baltic, Estonia, Financial Services, Real Estate

International Internet Magazine. Baltic States news & analytics Saturday, 20.07.2019, 16:52

Estonia: Baltic Horizon Fund raises EUR 800,000 in private placement

BC, Tallinn, 15.05.2019.Print version
Baltic Horizon Fund has raised 800,000 euros in a private placement aimed at institutional investors in the Baltic countries, which it plans to use to finance investments into real estate properties.

The subscription date in the placement was May 13, 2019, the fund told the stock exchange.

The new units to be issued represent less than 20% of the total number of Baltic Horizon Fund units already admitted to trading, therefore Northern Horizon Capital AS, the management company of Baltic Horizon Fund, intends to issue 627,974 new units with a total gross value of 800,000 mln euros.


The issue price of the new units is 1.3197 euros, calculated according to the procedure adopted at the general meeting of unit-holders on Feb. 19, 2019, being equal to the weighted average price of the units on Nasdaq Tallinn Stock Exchange in the 90-day period between Feb. 12 and May 12, 2019.


As a result of the issue of new units, the total number of Baltic Horizon Fund units registered in the Estonian Register of Securities will increase from 97.3 mln to 97.96 mln.


Northern Horizon Capital AS intends to list the new units on Nasdaq Tallinn Stock Exchange, with the first trading day expected to be on or around May 20, 2019.


Baltic Horizon Fund is a registered contractual public closed-end real estate fund that is managed by alternative investment fund manager license holder Northern Horizon Capital AS.

 






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