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Northern Horizon raises funds

Alex Hayes 08 October 2019

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

BALTIC STATES Northern Horizon Capital the manager of Baltic Horizon Fond, has closed private placements for a total of EUR 16.5 mln.

The new capital is intended to finance the acquisition of the North Star business centre announced on 30 August 2019. The private placement was aimed at institutional investors, mainly in the Baltic and Nordic countries.

The new units to be issued represent less than 20 pct of the number of Baltic Horizon Fund units already admitted to trading (over a period of 12 months); therefore, Northern Horizon Capital AS intends to issue a total of 12,472,323 new units corresponding to a gross value of EUR 16.5 mln.

The issue price of the new units is EUR 1.3253 corresponding to latest net asset value per unit. The total number of Baltic Horizon Fund units registered in the Estonian Register of Securities will increase from 100,915,202 to 113,387,525.

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