Eften Real Estate Fund AS is considering a new public offering of shares

(MENAFN- GlobeNewsWire – Nasdaq) The Management Board of EfTEN Real Estate Fund AS has submitted to the Supervisory Board a proposal to issue new shares, the purpose of which is to finance new planned acquisitions. The initial issue volume is planned at 10% of the fund’s current equity (approximately EUR 20 million), which in the event of oversubscription may be increased to 15% of the fund’s equity (approximately EUR 30 million). The fund is considering issuing new shares at a price corresponding to the 60-day simple average closing price of the fund’s shares on the Nasdaq Tallinn Stock Exchange. In addition to offering shares in Estonia, an offering in Latvia and Lithuania is also being considered. The new shares are to be listed on the Nasdaq Tallinn Stock Exchange.

The fund’s management sees that the Baltic real estate market, which has been stagnant for several years, is on track to recovery thanks to falling interest rates. At the same time, foreign investors’ interest in the Baltic real estate market is still practically zero, and at the moment no new foreign capital is flowing in there. In such a situation, the fund’s management sees good opportunities to expand the fund’s real estate portfolio on favorable terms.

The condition for the public offering is that the general meeting of shareholders decides to increase the share capital and registers the prospectus with the Polish Financial Supervision Authority. The Fund will additionally announce the time, place and agenda of the general meeting through the stock exchange system. The exact terms of the public offering will additionally be published through the stock exchange system after the prospectus has been registered.

Wiljar Arakas
Member of the Board
Phone 655 9515
Email address: …

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