Secondary public offering of Baltic Horizon Fund units ended on 22 October
2020 16:00 (EEST). In total, 6,247,904 units were subscribed which corresponds
to gross amount of EUR 7.2 million.
"We are satisfied with the results, considering the current difficult
environment for fund raising due to COVID-19. Nearly 500 new retail investors
were onboarded from the Baltic States during subscription period and it was the
first time we introduced Baltic Horizon to Lithuanian retail investors as long
term real estate investment opportunity. With the new equity raised, we can
pursue our investment plans with the continuous focus on regular quarterly
dividends", commented Tarmo Karotam, Fund manager of Baltic Horizon Fund.
Aare Tammemäe, partner of Redgate Capital AS: "Baltic Horizon Fund units
subscription results were satisfactory, considering the tough environment where
many institutional investors had uncertainty about the future economic
developments overall. Also, passing the new law on Estonian pension fund system
reform made it more difficult for the pension funds to look at local
instruments."
Northern Horizon Capital AS, the management company of Baltic Horizon Fund has
decided to allocate each investor all units they subscribed for.
As a result of the offering the total number of Baltic Horizon Fund units will
be increased by 6,247,904 units and after the new units have been registered
with the Estonian Register of Securities, the total number of units will be
119,635,429.
For additional information please contact:
Tarmo Karotam
Baltic Horizon Fund manager
E-mail tarmo.karotam@nh-cap.com
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www.baltichorizon.com
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Baltic Horizon Fund is a registered contractual public closed-end real estate
fund managed by Alternative Investment Fund Manager license holder Northern
Horizon Capital AS.
Distribution: GlobeNewswire, Nasdaq Tallinn, Nasdaq
Stockholm, www.baltichorizon.com
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This announcement contains information that Northern Horizon Capital AS 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
13:10 EET on 23 October 2020.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
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