Secondary public offering of Baltic Horizon Fund (the Fund) units ended on 30 November 2016 13:00 (EET). In total, 15 285 593 units were subscribed (the New Units) that corresponds to gross amount of 20,568,294 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. The Management Company has decided not to use the Upsizing Option.
As a result of the offering of the New Units, the total number of Fund units will be increased by 15 285 593 units and after the New Units have been registered with the Estonian Central Register of Securities, the new total number of Fund units is 57 264 743.
Tarmo Karotam, the Fund’s manager: “We are satisfied with the result of the secondary public offering of the fund this year and are especially pleased to have more than 4000 new investors show trust in the Baltic Horizon investment case. As the investor base is now well diversified across the Baltic sea region we also believe that this development considerably enhances the fund‘s liquidity on the stock exchange. With several attractive investments on the horizon, the fund management team is aiming to deploy the newly raised capital within a short period of time.”
Martin Malhotra, Catella Corporate Finance AB: „In this public offering, Baltic Horizon targeted a wide regional investor base and sought to increase the number of unitholders. The uncertainty created after the US election did impact the issue especially in Scandinavia. Nevertheless a large number of new investors did participate and many old investors did subscribe for additional units. We now very much look forward to seeing Baltic Horizon become the first to list on the Alternative Investment Funds market on Nasdaq Stockholm.“
Nasdaq Stockholm has on 30 November 2016 approved the Management Company’s application to list the Fund’s units also on Nasdaq Stockholm in the Alternative Investment Funds market.
· On or about 1 December 2016 New Units will be registered at the Estonian Central Register of Securities;
· On or about 5 December 2016 December 2016 New Units will be delivered to the accounts indicated by investors in their purchase orders against payment;
· On or about 5 December 2016 is the first trading day on Nasdaq Tallinn;
· On or about 8 December 2016 is first trading day on Nasdaq Stockholm.
Baltic Horizon Fund is a registered public closed-end real estate fund and Baltic Horizon units began trading on the Nasdaq Baltic Fund list of July 6, 2016. The company’s stock symbol (ticker) is NHCBHFFT, after listing on NASDAQ Stockholm the Fund will receive a ticker of NHCBHFFS.
The fund is managed by Northern Horizon Capital AS under an Alternative Investment Fund Manager license granted by the Estonian Financial Supervision Authority.