The Board of Invalda INVL (hereinafter referred to as the Company) supplemented the Board decision passed on 20 December 2017 and has determined that the Company will propose up to 2.893.000 units i.e. up to 22 percent of the special closed-ended type real estate investment company INVL Baltic Real Estate ordinary registered shares for the public offering of shares. The nominal value of one ordinary registered share is EUR 1.45, the total number of shares offered is up to 2.893.000, the total nominal value of all the shares offered is up to EUR 4.194.850. The sale price of shares will be equal to the latest published net asset value per share, however, taking into account that the calculation of net asset value (hereinafter referred to as NAV) in accordance with the Articles of Association of INVL Baltic Real Estate is performed and announced at least once every three months, the price may differ (depending on the announced NAV) in different public offering periods.
Detailed conditions for submission and payment of the purchase orders, as well as other public offering (hereinafter referred to as the Offering) conditions, are indicated in the Offering prospectus ((hereinafter referred to as the Prospectus) approved by the Bank of Lithuania on 23 April 2018. According to the Prospectus, the Offering consists of Public Offering in the Republic of Lithuania; and a private placement to Institutional Investors outside of the United States of America. The Offering also covers private offering to individually identified non-institutional and non-qualified investors.
Expected Offering periods (acceptance of the purchase orders from the investors):
- from 2 May 2018 till 4 July 2018;
- from 18 August 2018 till 18 September 2018;
- from 2 November 2018 till 13 December 2018.
Invalda INVL reserves the right to change the timetable of the periods of the Offering. Should Invalda INVL decide to materially adjust the dates set out in the timetable, the relevant supplement to the Prospectus will be provided to the Bank of Lithuania for the approval and published (upon the approval) in compliance with applicable regulations, as well as market practices in Lithuania.
The Board of Invalda INVL has appointed INVL Asset Management to execute the Offering in accordance with the Law on Collective Investment Undertakings. The Company also announces that a Distribution Agreement with INVL Asset Management and INVL Baltic Real Estate was signed.
The person authorized to provide additional information is:
Darius Sulnis, President of Invalda INVL
E-mail Darius.Sulnis@invl.com