Today, 15 January, the board of INVL Asset Management approved the rules for a buy-back of INVL Baltic Real Estate shares and adopted a decision on the start of the share buy-back process. The share buy-back process will begin on 25 January and continue until 25 March (inclusive). The share buy-back price is the net asset value of INVL Baltic Real Estate on 30 November 2020, which was EUR 2.2103 per share.
Shares of INVL Baltic Real Estate will be repurchased and settlement for them will be made in stages, each of which will last 14 calendar days. Orders to sell can be submitted during the buy-back through banks’ financial brokerage divisions or through financial brokerage firms. More detailed information about the buy-back is provided in the attached share buy-back rules.
INVL Baltic Real Estate owns real estate in Vilnius and Riga: office buildings in the Old Town of the Lithuanian capital on Vilniaus Street and in Šiaurės Miestelis, and the Dommo Business Park manufacturing, warehouse and office complex beside the Riga bypass.
The company’s properties had occupancy of between 69% and 100% as of the end of September 2020. INVL Baltic Real Estate’s property holdings currently have a total area of 25 800 sq. m. and a value of EUR 23.5 million.
Since its launch as a collective investment undertaking (on 22 December 2016), INVL Baltic Real Estate has been one of the Baltic real estate funds open to retail investors with the highest stable returns. The fund operates as a closed-end investment company. Management of the company was assumed by INVL Asset Management, one of Lithuania’s leading asset management firms. The company will operate as a closed-end investment company until 2046, with extension possible for a further 20 years.