We advised Northern Horizon Capital in connection with a secondary public offering raising EUR 7.2 million and listing of new units of the Baltic Horizon Fund on Nasdaq Tallinn and Nasdaq Stockholm stock exchanges.
Baltic Horizon Fund is a real estate fund with a focus on commercial properties in the capitals of the Baltic States. It is managed by licensed alternative investment fund manager Northern Horizon Capital.
Multinational transaction
The transaction involved offering units to retail and professional investors in Estonia and Lithuania as well as to professional investors in certain other European countries under the AIFM Directive regime. This was the first time that units of Baltic Horizon Fund were offered publicly to retail investors in Lithuania.
Our team representing the client
We acted as lead counsel for the project and advised the client throughout the process, including drafting and registering the prospectus and in discussions and negotiations with the Estonian Financial Supervision Authority, Nasdaq CSD, Nasdaq Lithuania and Redgate Capital, who acted as the manager of the offering.
Our project team was led by senior associate Kätlin Krisak with associate Oliver Ämarik and supported by partner Paul Künnap.
We have previously advised Baltic Horizon Fund on various cases including:
- Baltic Horizon Fund completed private placements of new fund units
- Baltic Horizon Fund issued new units in connection with acquiring Galerija Centrs Shopping Centre
- Baltic Horizon Fund lists bonds on Nasdaq Baltic Bond List
- Baltic Horizon Fund completed secondary public offering and listing of new fund units
- Secondary listing of Baltic Horizon Fund units on Nasdaq Stockholm stock exchange
