Baltic Horizon Fund announces results of the secondary public offering

Baltic Horizon FundSecondary public offering of Fund units ended on 22 October 2020 16:00 (EEST). In total, 6,247,904 units were subscribed which corresponds to gross amount of EUR 7.2 million.

“We are satisfied with the results, considering the current difficult environment for fund raising due to COVID-19. Nearly 500 new retail investors were onboarded from the Baltic States during subscription period and it was the first time we introduced to Lithuanian retail investors as long term real estate investment opportunity. With the new equity raised, we can pursue our investment plans with the continuous focus on regular quarterly dividends”, commented Tarmo Karotam, Fund manager of Baltic Horizon Fund.

Aare Tammemäe, partner of Capital AS: “ Fund units subscription results were satisfactory, considering the tough environment where many institutional investors had uncertainty about the future economic developments overall. Also, passing the new law on pension fund system reform made it more difficult for the pension funds to look at local instruments.”

AS, the management company of Fund has decided to allocate each all units they subscribed for.

As a result of the offering the total number of Fund units will be increased by 6,247,904 units and after the new units have been registered with the Register of Securities, the total number of units will be 119,635,429.

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