INVL Baltic Real Estate, a real estate investment company listed on NASDAQ Vilnius and its subsidiary company Invaldos Nekilnojamojo Turto Fondas announced reorganization terms.
Under these terms, INVL Baltic Real Estate will be merged with Invaldos Nekilnojamojo Turto Fondas. New company will change the name to INVL Baltic Real Estate and will remain listed on NASDAQ Vilnius stock exchange.
“INVL Baltic Real Estate already has 100% shares in Invaldos Nekilnojamojo Turto Fondas. By this reorganization we are striving to simplify structure of the group companies and preparing for applying for closed-end investment companies license” – says Andrius Dauksas, director of INVL Baltic Real Estate.
Shareholders of INVL Baltic Real Estate will get 6,136287941 shares in Invaldos Nekilnojamojo Turto Fondas for every ordinary share. The authorized capital of the company, operating after the reorganization will amount to 43,226,252 and market capitalization of the company is EUR 13.3 million. INVL Baltic Real Estate currently invested into real estate objects in Vilnius and Riga. Group companies have about 51 700 sq. m. of real estate space. The value of the real estate is about EUR 33.8 million. Shares of INVL Baltic Real Estate are listed on NASDAQ Vilnius stock exchange.