Northern Horizon Capital AS and Nordic Issuing AB, a Swedish licenced investment firm entered into a framework agreement to explore the possibilities of issuing Swedish Depositary Receipts („SDR“) representing Baltic Horizon Fund units on the Swedish market.
According to the framework agreement, after legal and technical due diligence of the intended structure, Nordic Issuing AB would act as the issuing agent of the SDR-s and safekeep Baltic Horizon Fund units to be represented by the SDR-s.
The cooperation and intended issuance of SDR-s is planned in response to Euroclear Sweden AB-s decision to terminate the affiliation agreement for keeping Baltic Horizon Fund units registered with its book entry system in Sweden, taking place due to a strategic decision by Nordea Bank Abp to exit its Nordic sub-custody business. Baltic Horizon Fund informed the investors of the termination on 29 September 2021. Northern Horizon Capital AS and Nordic Issuing AB are determined to work towards having the alternative solution in place for the Swedish investors before the termination of Euroclear agreement.
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Baltic Horizon 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.
Distribution: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm, www.baltichorizon.com