Secondary public offering of Baltic Horizon Fund (the Fund) units ended on 20 June 2017 15:00 (CET). In total, 7 397 027 units were subscribed (the New Units) that corresponds to gross amount of 9 843 963,53 EUR.
Northern Horizon Capital AS (the Management Company) as the management company of the Fund has decided to allocate each investor all units they subscribed for.
As a result of the offering of the New Units, the total number of Fund units will be increased by 7 397 027 units and after the New Units have been registered with the Estonian Central Register of Securities, the new total number of Fund units is 64 655 870.
Tarmo Karotam, the Fund’s manager: “We are satisfied with the results of the offering and are aiming to shortly deploy the newly raised capital to our immediate pipeline in the Baltic capitals. This third capital-raising round shall allow the fund to grow its gross assets to EUR 200 million while further improving its operating efficiency and portfolio diversification. Over the past 12 months, Baltic Horizon has raised approximately EUR 60 million of equity for its core Baltic commercial real estate strategy. Investors who were not able to complete their subscriptions in June will have an opportunity to invest into Baltic Horizon in the future on the Stockholm and Tallinn stock exchanges. The fund management team continues to actively manage its existing portfolio with an aim to deliver quarterly dividends to its investors.”
· On or about 21 June 2017 New Units will be registered at the Estonian Central Register of Securities;
· On or about 26 June 2017 the allocated units will be transferred to the securities accounts of the investors or persons acting on their behalf against payment for the number of units subscribed for by each investor;
· On or about 26 June 2017 is the first trading day on Nasdaq Tallinn;
· On or about 30 June 2017 is first trading day on Nasdaq Stockholm.
Baltic Horizon Fund manager
The 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. Both the Fund and the Management Company are supervised by the Estonian Financial Supervision Authority.
Distribution: Nasdaq, GlobeNewswire, www.baltichorizon.com
This announcement contains information that the Management Company is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the above distributors, at 12:31 EET on 21 June 2017.