AS Pro Kapital Grupp (hereinafter referred to as the Issuer) announced on 22 September 2023 that the Issuer obtained the approval in the written procedure initiated on 20 August 2023 from the holders of its 3 459 081 unsecured bonds…
Baltic Horizon Fund (the Issuer) applies for temporary waiver of debt service coverage ratio covenant in relation to Baltic Horizon Fund EUR 42 million 5-year floating rate bonds maturing in 2028 (ISIN EE3300003235, the Bonds). The current outstanding nominal amount of the…
On September 25, Merko Ehitus group’s 100% subsidiaries OÜ Merko Ehitus Ventures and AS Merko Ehitus Eesti signed an agreement, according to which 50% of the share in AS Connecto Eesti, so far owned by Merko Ehitus Eesti, will be…
The Management Board of EfTEN Real Estate Fund AS (registry code 12864036; seat Tallinn, A. Lauteri 5) calls the extraordinary general meeting of shareholders on 16 October 2024 at 15:00. Venue of the general meeting: Radisson Collection Hotel second floor conference centre hall…
Northern Horizon Capital AS, the management company of Baltic Horizon Fund, raised EUR 6.29 million in private placement. The private placement, mainly targeting institutional investors in select European countries, took place under the resolution taken by the general meeting of…
On 5 September 2024, AS Merko Ehitus Eesti, part of AS Merko Ehitus group, and Estconde Invest OÜ entered into a design-and-build contract of an office building located at Tartu mnt 1, Tallinn. The contract includes construction of a 27-storey…
In Q2 2024, Estonian GDP dropped 1% y/y in real terms (seasonally non-adjusted) and it remained at the same level compared to the previous quarter (seasonally and working day adjusted – swda), according to the updated estimate of Statistics Estonia.…
Enlight Research updated the equity research and price target of EfTEN Real Estate Fund AS (EfTEN; EFT1T) shares. According to the analysis, the fair value of the share is 22.51 euros under the base scenario. This is almost unchanged as…
The main business activity of Trigon Property Development AS is real estate development. As at 30.06.2024, AS Trigon Property Development owned one development project with an area of 14.2 hectares in the City of Pärnu, Estonia. A commercial, industrial and…
On 22.08.2024, Liven Kodu 22 OÜ, part of the Liven AS consolidation group (Liven), signed a contract under the law of obligations for the acquisition of a plot of land located at Kalda 5 / Käokõrva 1-12 in Tallinn, Nõmme…
MANAGEMENT REPORT Real Estate Development In 2024, we are continuing the construction and sales activities of the last stage of Kalaranna 8, Tallinn. The final stage consists of 4 residential buildings with 146 apartments and 4 commercial units which, upon…
The 100% subsidiary of the fund, EfTEN Tähesaju tee OÜ, signed on 13.08.2024 with Kinnisvara Info AS agreement under the law of obligations and sold the property located at Tähesaju 5 in the Tähesaju retail park in Lasnamäe, Tallinn, at…
COMMENTARY FROM MANAGEMENT Merko Ehitus revenue for the 6 months of 2024 was EUR 204 million and net profit was EUR 17.5 million. Second-quarter revenue was EUR 122 million; net profit, EUR 13.1 million. The lower volumes from real estate…
A repeat extraordinary general meeting (hereinafter the “General Meeting”) of Baltic Horizon Fund unit-holders and Swedish Depositary Receipt (hereinafter the “SDR”) holders (hereinafter together the “Investors”) took place on 6 August 2024 in Tallinn, Estonia. The repeat meeting was convened…
Last year, EfTEN Ermi OÜ, a 100% subsidiary of EfTEN Real Estate Fund AS, in cooperation with the operator Tartu Südamekodu OÜ and the construction company Tartu Ehitus AS, started the construction of a 120-bed elderly care home on the…