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EfTEN Real Estate Fund AS to launch public share offering on November 21
EfTEN Real Estate Fund AS announces that it will hold a secondary public offering, planning to emit an additional 1,000,000 shares to raise up to EUR 19 million to support new investment initiatives.
The subscription period will begin on November 21 at 9:00 and end on December 6 at 15:30. The price of one share offered is EUR 19.00, and the shares will be admitted to trading on the Nasdaq Baltic Main List. The offering will be carried out in Latvia, Estonia, and Lithuania. In case of oversubscription, the company may emit an additional 500,000 shares.
“An old saying is true in investment - there is always either a lack of capital or good projects. Currently, there are plenty of quality projects available, and additional capital is necessary to carry them out. Even though the overall feeling in the industry may be cautious, this is the right moment to attract new capital, as the perspective of future investment is better than ever before," says Viktors Savins, EfTEN Capital Latvia Country Manager and CEO.
Timeline:
- November 21 - start of the subscription period
- December 6 - end of the subscription period
- December 10 - announcement of the results
- December 13 - settlement date
During the first three quarters of 2024, turnover of EfTEN Real Estate Fund AS reached EUR 23.9 million, while profit rose to EUR 10.1 million, up 47% compared to the same period last year.
As of 30 September 2024, the Fund's assets totaled €377.7 million, with investment properties comprising 96% of the assets. By this date, the Group held ownership of 35 commercial investment properties.
Additional information about the offering and the prospectus can be found on https://investor.eref.ee/review.