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Northern Horizon raises EUR 20.5 mln

Rafał Ostrowski 12 April 2019

Rafał Ostrowski


+48 22 356 25 11

Rafał Ostrowski has over 17 years’ experience as a journalist. Before joining ‘Eurobuild CEE’ five years ago, he wrote for Wydawnictwo Murator and Shopping Centre Magazine, as well as for retailnet.pl. He has also written for many newspapers and magazines as a freelancer and prepared photo-reportages. Rafał graduated from the University of Warsaw in philosophy. He also completed postgraduate studies in text editing. For ‘Eurobuild CEE’ he covers most real estate sectors, including logistics, construction, office, residential and retail. He is also in charge of the film direction for Eurobuild TV.

EUROPE Northern Horizon Capital., the managers of the Baltic Horizon Fund, has raised EUR 20.5 mln in a private placement. The placement, which targetted institutional investors in select European countries, was announced on February 25th and closed on April 11th 2019.

The placement was over 160 pct oversubscribed. The new shares to be issued represent less than 20 pct of the number already admitted to trading over the last twelve months. Northern Horizon Capital intends to issue 15,699,366 new units (EUR 1.3067 each) with a total value of EUR 20.5 mln. On completion of the issue, the total number of Baltic Horizon Fund shares registered in the Estonian Register of Securities will increase from 78,496,831 to 94,196,197. Northern Horizon Capital intends to list the new units on the Nasdaq Tallinn and Nasdaq Stockholm Stock Exchange, with the first trading day on Nasdaq Tallinn expected to be on or around 17th April 2019 and on Nasdaq Stockholm on or around 23rd April 2019.

“We are very pleased with the exceptionally high interest in the private placement of new Baltic Horizon fund units. The new capital for this fund was raised mainly from several new Baltic and Swedish institutional investors. We are aiming to strategically deploy the newly raised funds in the Baltic capital cities shortly,” said Tarmo Karotam, fund manager of Baltic Horizon.

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