INVL Baltic Real Estate successfully allocated over EUR 9 million share issue

03 / 16

AB INVL Baltic Real Estate, an investment company specialising in investments into real estate, successfully allocated over EUR 9 million share issue on the NASDAQ OMX Vilnius. The Company's shares were admitted for trading on the regulated market at the beginning of March 2016.

During the offering about 170 new investors subscribed for shares of the new issue, which allowed INVL Baltic Real Estate to raise capital of over EUR 9 million. The existing shareholders of the company acquired shares for EUR 6.371 million, whereas retail investors – for about EUR 2 million and institutional investors – for about EUR 651,800.

TGS Baltic advised AB INVL Baltic Real Estate on the public offering of the newly issued shares of the company and admitting them for trading on the Vilnius Stock Exchange. The law firm provided all legal services throughout the process, drafted all necessary transaction documentation, and advised on regulatory issues relevant to the completion of the public share offering. The law firm also developed a new share issue prospectus, as well as all other documents related to the project and represented the client before the Bank of Lithuania and the Central Securities Depository of Lithuania.

Vidmantas Drizga, Partner, Mantas Gofmanas, Senior Associate and Eglė Mazėtytė, Associate, led TGS Baltic team.

AB INVL Baltic Real Estate was founded in 2014 by way of spin-off from the asset management group Invalda INVL. Shares of the company are listed on NASDAQ OMX Vilnius. INVL Baltic Real Estate seeks to earn profit by investing in commercial properties and ensuring growth of its income from property leases. Companies under INVL Baltic Real Estate hold investments in commercial properties, such as business centres and manufacturing and warehousing facilities both in Lithuania and Latvia.