EfTEN Real Estate Fund AS (registry code 12864036, address A. Lauteri 5, 10114 Tallinn) announces a public offering of shares based on a decision of the fund's Supervisory Board dated November 11, 2024, and informs about the planned listing and admission to trading of new shares on the regulated market organized by Nasdaq Tallinn AS (registry code 10359206). The Supervisory Board's decision is based on the resolution of the shareholders' general meeting held on October 16, 2024.
Share Offering
EfTEN Real Estate Fund AS offers up to 1,000,000 new ordinary shares of the fund to all natural and legal persons in Estonia, Latvia, and Lithuania in accordance with the public offering prospectus. The fund reserves the right to upsize the offering by an additional 500,000 shares.
There is no minimum or maximum number of shares that can be subscribed to. Existing shareholders, i.e., individuals who are entered in the fund's shareholders' register as of the end of the Nasdaq CSD working day on November 20, 2024, have the pre-emptive right to subscribe for new shares in proportion to the total nominal value of their shares, which does not limit or exclude existing shareholders' right to subscribe for new shares in larger or smaller quantities or not to subscribe for new shares at all. No existing shares will be sold during the offering.
The offer price for each new share is €19.00, of which €10 is the nominal value of the share and €9.00 is the premium. Subscription orders can only be submitted during the subscription period. To subscribe for the offered shares in Estonia, an investor must have a securities account with Nasdaq CSD. To subscribe for the offered shares in Latvia or Lithuania, an investor must have a securities account with a financial institution that is a member of the Nasdaq Baltic exchange.
In Estonia the subscription order shall include the following information:
| Securities account holder: | Name of the investor |
| Securities account: | Securities account number of the investor |
| Securities account manager: | Name of the investor's securities account manager |
| Security: | EfTEN Real Estate Fund aktsia additional 7 |
| ISIN: | EE3805127240 |
| Quantity of securities: | The number of shares offered, which the investor wishes to subscribe |
| Price (per share): | 19,00 EUR |
| Transaction price: | Number of shares offered, which the investor wishes to subscribe, multiplied by the price of the offered shares |
| Counterparty of transaction: | EfTEN Real Estate Fund AS |
| Counterparty's securities account: | 99102006845 |
| Counterparty's securities account manager: | Swedbank AS |
| Settlement date: | 13.12.2024 |
| Type of transaction: | „Purchase“ or "subscription" |
| Settlement type: | „Delivery versus payment “ |
In Latvia, an investor who wants to list the Offered Shares must contact a financial institution that is a member of the Nasdaq Baltic stock exchange and manages the investor's securities account and submit an offer to purchase the Offered Shares in the form of a purchase order that is accepted by this financial institution and that is in accordance with the terms of the Prospectus.
In Lithuania, an investor who wants to list the Offered Shares must contact a financial institution that is a member of the Nasdaq Baltic stock exchange and manages the investor's securities account and submit an offer to purchase the Offered Shares in the form of a purchase order that is accepted by this financial institution and that is in accordance with the terms of the Prospectus.
The list of Nasdaq Baltic exchange members is available on the Nasdaq Baltic website https://nasdaqbaltic.com/statistics/et/members
To participate in the offer, subscription orders can only be submitted in euros, and the participant in the offer bears all costs or fees related to the submission of the subscription order.
The time schedule of the offering of the shares is as follows:
| 21.11.2024 at 09:00 (EET) | Start of the subscription period of the shares |
| 06.12.2024 at 15.30 (EET) | End of the subscription period of the shares |
| 10.12.2024 | Announcement of the initial results of the Offering |
| 13.12.2024 | Settlement of the Offering (Transfer of the shares to investors’ securities accounts) |
| On or about 23.12.2024 | The increase of the share capital is presumably registered in the Commercial Register |
| On or about 30.12.2024 | Expected listing of the shares and admission to trading on the regulated market operated by Nasdaq Tallinn AS (on Baltic Main List) |
Listing and admission to trading of shares
EfTEN Real Estate Fund AS submits a request for listing and admission to trading of the offered shares on the main list of the Nasdaq Tallinn stock exchange after the end of the subscription period. Although EfTEN Real Estate Fund AS makes every effort to list and trade new shares, EfTEN Real Estate Fund AS cannot guarantee the listing and trading of shares.
Availability of the prospectus
The prospectus for the public offering, listing and admission to trading of EfTEN Real Estate Fund AS shares is available at the location of EfTEN Real Estate Fund AS, Tallinn, A. Lauteri 5 (III floor) and electronically on the fund's website at www.eref.ee and on the website of the Financial Supervision Authority at www.fi.ee. In addition to the above, the prospectus is available through the information system of the Nasdaq Tallinn Stock Exchange.
Before investing into shares of EfTEN Real Estate Fund AS we ask you to acquaint yourself with the whole prospectus.
Viljar Arakas
Member of the Management Board
Tel. 655 9515
Email: viljar.arakas@eften.ee
