Amendments to the Articles of Association of INVL Baltic Real Estate after the completion of a EUR 9 million offering of new shares have been registered at Lithuania's Register of Legal Entities. The company's authorized capital has been increased to EUR 19,067,500, divided into 65,750,000 shares.
INVL Baltic Real Estate's new Articles of Association were registered on 8 March this year. The start of trading in the newly issued shares on the Nasdaq Vilnius exchange is planned this Thursday, 10 March.
"Having completed activities related to the capital increase, we continue to focus on increasing the value of the real estate we manage in terms of leasing income and operating efficiency," said Egidijus Damulis, the CEO of INVL Baltic Real Estate.
The Central Securities Depository of Lithuania has announced the planned registration of the new shares (22,523,748 of them) as a stock event. Registration of the new shares at the depository is foreseen on 10 March, when they should automatically be included in trading on the Secondary List of the Nasdaq Vilnius exchange.
Through its share offering, which ended on 4 March, INVL Baltic Real Estate provided an opportunity to invest in a company which manages a valuable diversified real estate portfolio. The offering price was EUR 0.40 per share.
INVL Baltic Real Estate, which is listed on the Nasdaq Vilnius exchange, manages real estate valued at EUR 52 million comprising 58,000 square metres at strategically attractive locations in Vilnius and Riga: office space at the Vilnius Gates complex, the IBC Business Centre near Konstitucijos Avenue, office buildings in the Old Town on Vilniaus Street and in Siaures Miestelis, office and warehouse premises in Kirtimai, and the Dommo Business Park manufacturing, warehouse and office complex beside the Riga bypass.