Baltic, Financial Services, Funds, Investments

The fund manager targeted proceeds of at least 20 million euros that corresponds to 16.5 million new units. The offer price was 1.3086 euros per unit. Investors took up 22.7 million units, which corresponds to approximately 30 million euros. Baltic Horizon has decided to meet the demand and complete the offering.

The fund will issue 17 million new units. In addition, Svenska Kyrkans Pensionskassa, UAB INVL Asset Management and IPAS INVL Asset Management offered to sell 5.7 million units, thus a total of 22.7 million units will be allocated.

The listing and surveillance committee of Nasdaq Tallinn decided last week to admit units of Baltic Horizon Fund, an investment fund managed by Northern Horizon Capital AS, for trading in the Baltic Fund List starting July 6.

Baltic Horizon Fund is a newly-established closed-end contractual investment fund, which has no operating history. It also has no assets and liabilities. The fund is a real estate fund that invests directly or indirectly in real estate located in Estonia, Latvia, and Lithuania, with a particular focus on the capitals – Tallinn, Riga, and Vilnius, it stands in the prospectus of the fund.