Trading in shares of INVL Baltic Real Estate shares will be renewed from 16 September 2015. Trading in companys shares was halted due to the completion of a merger with Invaldos Nekilnojamojo Turto Fondas, a company owned by INVL Baltic Real Estate itself. The merger of companies was completed in September 2015.
On 14 September the Supervision Authority of the Bank of Lithuania approved that INVL Baltic Real Estate, operating after the Reorganization, publicly disclosed information is equivalent to the information of prospectus of INVL Baltic Real Estate.
Shareholders of INVL Baltic Real Estate received 6.136287941 shares in Invaldos Nekilnojamojo Turto Fondas for every ordinary share. The authorized capital of the company operating after the Reorganization is EUR 12,535,613.08, it is divided into 43,226,252 ordinary registered shares, nominal value – EUR 0.29 per share. Recalculated share price would be EUR 0.31 and in that case the market capitalization would reach EUR 13.3 million.
“We plan to apply to Bank of Lithuania for closed-end investment company license. The companys structure would be similar to a fund”, – Andrius Dauksas, the director of INVL Baltic Real Estate, said.
INVL Baltic Real Estate has about 51,700 sq. m. of real estate space in Vilnius and Ryga.