EfTEN Capital AS (registry code 11505542, address A. Lauteri tn 5, 10114 Tallinn) as the management company of the EfTEN United Property Fund announces a public offering of the units of the EfTEN United Property Fund.
Offering of units
The Management Company organizes the offering of up to 500,000 fund units to all natural and legal persons in Estonia in accordance with the public offering prospectus of the units. The offer is divided to interim periods. During the first interim period, i.e. from 9.00 am (EET) on 09.05.2022 to 11.00 am on 20.05.2022 (EET), the Management Company will offer and the Fund will issue 460,000 offered units. The Management Company has the right to increase the offer by 300,000 offered units during the first interim period. From the second interim period until the end of the offer period, i.e. from 9.00 am (EET) on the first business day of the calendar month on 01.09.2022 until 11.00 am (EET) on the last business day of the last interim period, the Management Company offers and issues up to 40,000 offered units. Maximum of 10,000 units will be offered in the interim period from September to December.
The fund has one class of units and the offered units belong to the same class. Existing units will not be sold during the offer. The minimum number of units to be subscribed is 1 and no maximum number has been set. Integer number of units can be subscribed. During the offer, no one has the pre-emptive right to subscribe for the offered units or any other advantages or special rights arising from the legislation or the fund rules. Notwithstanding the above, the Management Company may give preference to the existing investors of the Fund in the distribution of the units offered by oversubscription. The existing investors are considered to be the investors registered as unit-holders as of the end of the calendar month preceding the respective interim period.
The offer price of the units to be issued in each interim period is the net asset value of the fund unit in the previous calendar month. The Management Company determines and publishes the net asset value of a fund unit on the last business day of the calendar month following the reporting period (calendar month) as a stock exchange announcement and on its website.
The subscription of the offered units takes place only in Estonia through Nasdaq CSD account managers. In order to participate in the tender, subscription orders may be submitted only in euros and the tenderer shall bear all costs or fees related to the submission of the subscription order.