Catella lead manager in planned capital raising and secondary listing of Baltic Horizon
The alternative investment fund Baltic Horizon, which was listed on the Nasdaq Tallinn Fund List in July 2016, is planning an additional capital raising and secondary listing on Nasdaq Stockholm. Accordingly, Baltic Horizon will become the first exchange traded alternative investment fund on Nasdaq Stockholm. In connection with the listing, the fund targets raising up to EUR 80 million in new capital.
Baltic Horizon Fund is a real estate fund with no particular lifetime (evergreen) focusing on centrally located commercial property in the capitals of the Baltic countries. The fund invests in properties with long rental contracts, often with Nordic corporate tenants. Baltic Horizon was listed on Nasdaq Tallinn on July 6, 2016, with EUR 29.7 million in equity, and is managed by Northern Horizon Capital AS.
“We are very excited that Baltic Horizon has appointed Catella as lead manager, and that they are pursuing their strategy by initiating the planned capital raising and secondary listing on Nasdaq Stockholm following the successful creation of the fund this summer.” says Andrew Smith, project head at Catella London. “Through the secondary listing on Nasdaq Stockholm, investors are offered high quality Baltic property exposure and liquidity on the secondary market,” says Martin Malhotra, project manager at Catella’s Corporate Finance.
In connection with the capital raising, Catella Bank will once again play a central role.
“There was great interest in the previous issue this summer, when Catella Bank completed a focused process during two weeks in June where our clients were offered to invest in Baltic Horizon, and we are seeing continued strong interest in properties with good risk adjusted returns in the Baltics,” says Dennis Nygren, Head of Wealth Management at Catella.
For several years there has been a common legal framework for alternative investment funds in the EU (the AIFM Directive), which allows funds in one EEA country to be marketed in other EEA countries.
“The secondary listing of Baltic Horizon creates an opportunity for Swedish professional and retail investors to invest in a vehicle with a clear investment strategy, high transparency and tax efficiency combined with the good liquidity we have on the Swedish stock market. We see this as the beginning of a new trend with more listings of exchange traded property funds from Sweden, the Nordics and the Baltics,” says Arvid Lindqvist, Head of Research at Catella.
For more information, please see the press release from Northern Horizon and from OMX Group.
For more information, please contact:
Martin Malhotra
Project Manager
+46 8 463 34 05
martin.malhotra@catella.se
Arvid Lindqvist
Head of Research Sweden
+46 8 463 33 04
arvid.lindqvist@catella.se
Press contact:
Ann Charlotte Svensson
Head of Communications
+46 8 463 32 55, +46 72 510 11 61
anncharlotte.svensson@catella.se
About Catella: Catella is a leading specialist in property investments, fund management and banking, with operations in 12 European countries. Catella is listed on First North Premier on Nasdaq Stockholm. Read more at catella.com.
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