The real estate investment company INVL Baltic Real Estate announces its largest shareholders following the completion of its EUR 9 million offering of new shares. According to data of 14 March of this year, the largest stake of INVL Baltic Real Estate, at 32.1% of shares, was held by Invalda INVL, one of the region's leading asset management groups.
LJB Investments, a company headed by INVL Baltic Real Estate Chairman of the Board Alvydas Banys, held a 20% stake, while Alvydas Banys himself held 5% of the shares of INVL Baltic Real Estate. Altogether, members of the board of INVL Baltic Real Estate hold 26.4% of votes in the company's general meeting of shareholders.
Irena Ona Miseikiene held 19% of shares after completion of the offering, while the company Lucrum Investicija had 5.4% of shares and 6.7% of votes.
Following the offering, INVL Baltic Real Estate has authorized capital of EUR 19 million. The new shares were registered by the country's central securities depository on 10 March and have been included in trading on the Secondary List of the Nasdaq Vilnius exchange.
Market-maker services provided by Siauliu Bankas improve access to the new shares, trading of which has begun. The bank, during at least 85% of trading time on the exchange, maintain orders of a suitable size and bid-ask spread to buy and sell INVL Baltic Real Estate shares, thus increasing market depth.
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. A total of about 170 investors purchased shares in the offering. Existing shareholders of INVL Baltic Real Estate acquired 70.7% of the new share issue, while retail investors acquired 22.1% and institutional investors acquired 7.2% of the new shares.
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.