Notice of public offering, listing and admission to trading of units of EfTEN United Property Fund
EfTEN Capital AS (registry code 11505542, address A. Lauteri tn 5, 10114 Tallinn) as the management company of the EfTEN United Property Fund announces a public offering of the units of the EfTEN United Property Fund.
Offering of units
The Management Company organizes the offering of up to 500,000 fund units to all natural and legal persons in Estonia in accordance with the public offering prospectus of the units. The offer is divided to interim periods. During the first interim period, i.e. from 9.00 am (EET) on 09.05.2022 to 11.00 am on 20.05.2022 (EET), the Management Company will offer and the Fund will issue 460,000 offered units. The Management Company has the right to increase the offer by 300,000 offered units during the first interim period. From the second interim period until the end of the offer period, i.e. from 9.00 am (EET) on the first business day of the calendar month on 01.09.2022 until 11.00 am (EET) on the last business day of the last interim period, the Management Company offers and issues up to 40,000 offered units. Maximum of 10,000 units will be offered in the interim period from September to December.
The fund has one class of units and the offered units belong to the same class. Existing units will not be sold during the offer. The minimum number of units to be subscribed is 1 and no maximum number has been set. Integer number of units can be subscribed. During the offer, no one has the pre-emptive right to subscribe for the offered units or any other advantages or special rights arising from the legislation or the fund rules. Notwithstanding the above, the Management Company may give preference to the existing investors of the Fund in the distribution of the units offered by oversubscription. The existing investors are considered to be the investors registered as unit-holders as of the end of the calendar month preceding the respective interim period.
The offer price of the units to be issued in each interim period is the net asset value of the fund unit in the previous calendar month. The Management Company determines and publishes the net asset value of a fund unit on the last business day of the calendar month following the reporting period (calendar month) as a stock exchange announcement and on its website.
The subscription of the offered units takes place only in Estonia through Nasdaq CSD account managers. In order to participate in the tender, subscription orders may be submitted only in euros and the tenderer shall bear all costs or fees related to the submission of the subscription order.
09.05.2022 - Announcement of the public offering of units
09.05.2022 at 9.00 (EET) - 30.12.2022 at 11.00 (EET) Period of the public offering of Units, taking into account that the offering is divided into interim periods
09.05.2022 at 9.00 (EET) - 20.05.2022 at 11.00 (EET) – the first interim period
24.05.2022 - the management company is expected to decide on the distribution of units for the first interim period
26.05.2022 - value date of the first interim period, when the units are transferred against payment to the investor's securities account
31.05.2022 or a day close to it - expected listing of the existing and the first interim units and start of trading on the regulated market organized by Nasdaq Tallinn AS (in the list of fund units of the Exchange)
From 01.09.2022 on the first business day of the calendar month at 9.00 (EET) until the last business day of the last interim period (December), i.e. 30.12.2022 at 11.00 (EET) - the following interim periods of the offer of units.
Significant dates related to the offering of units for periods after the first interim period shall be published by the Management Company before the start of each respective interim offer.
Listing and admission to trading of units
The Management Company has submitted an application for listing and admission to trading of all existing and offered units in the list of fund units of the Nasdaq Tallinn Stock Exchange, for which the Listing and Supervisory Committee of Nasdaq Tallinna AS has made a conditional decision on 03.05.2022.
Availability of the prospectus
The prospectus of the public offering, listing and admission to trading of EfTEN United Property Fund units together with the summary is available at the registered office of the Management Company in Tallinn, A. Lauteri 5 (3rd floor) and electronically at https://eftenunitedpropertyfund.ee and on the website of the Financial Supervision Authority at www.fi.ee . In addition to the above, the prospectus is also attached to the appendix to this stock exchange announcement.
This notice is not a prospectus or a summary thereof. Before investing in EfTEN United Property Fund units, please read the full prospectus.
Head of Retail
Tel. 655 9515