EfTEN Real Estate Fund AS is holding a secondary public offering of an additional 1,000,000 shares to raise up to EUR 19 million to support new investment initiatives.
The subscription period began on November 21 at 9:00 and will end on December 6 at 15:30. The price of one share is EUR 19.00, and the shares will be admitted to trading on the Nasdaq Baltic Main List. The offering will be carried out in Latvia, Estonia, and Lithuania. In case of oversubscription, the company may emit an additional 500,000 shares. The results will be announced on December 10, and the settlement date is December 13.
“An old saying is true in investment – there is always either a lack of capital or good projects,” said Viktors Savins, EfTEN Capital Latvia Country Manager and CEO. “Currently, there are plenty of quality projects available, and additional capital is necessary to carry them out. Even though the overall feeling in the industry may be cautious, this is the right moment to attract new capital, as the perspective of future investment is better than ever before.”
Turnover of EfTEN Real Estate Fund AS reached EUR 23.9 million in the first three quarters of 2024, while profit rose to EUR 10.1 million — a 47% increase over the same period last year.
The Fund’s assets totaled EUR 377.7 million as of September 30, 2024, with investment properties comprising 96% of the assets. The group owned 35 commercial investment properties at that date.
Image source: EfTEN.ee