Endover‘s Volta SKAI €12 Million Bond Issue Listed on Nasdaq Baltic First North

21.01.2026 RIG, TLN, VLN

Tallinn/Riga/Vilnius, Nasdaq Baltic Market, January 21, 2026 – Nasdaq (NDAQ) announces that secured bonds issued by Volta SKAI, an Estonian real estate developer, were admitted to trading on the Nasdaq Baltic First North Market by Nasdaq Tallinn. 

The total size of Volta SKAI’s secured bond issue is EUR 12 million. Each bond carries a nominal value of EUR 1,000 and a fixed annual coupon rate of 10%, paid quarterly. The bonds’ yield to maturity is 8.3% per annum, assuming the issuer does not redeem the bonds early and the investor holds them until maturity. The bonds mature on October 1, 2027.

“Volta SKAI is turning its vision into visible progress. Their First North listing connects strong ambition with committed investors, enabling the first tower of the Volta SKAI project to move confidently into construction,” said Kaarel Ots, Head of Nasdaq Tallinn Stock Exchange and Nasdaq Baltic Stock Exchanges.

“The strong demand for Volta SKAI’s secured bonds shows clear investor confidence. The project is moving forward successfully — the pre‑sale of the first tower exceeded expectations, and with today’s launch of public sales, the full apartment offering is now available online,” commented Roul Tutt, CEO of Volta SKAI and Endover.

Volta SKAI raised the EUR 12 million through two offering rounds: an EUR 8 million non‑public placement and a subsequent EUR 4 million public offering in Estonia, Latvia, and Lithuania. A total of 488 investors participated in the public offering, which was oversubscribed 1.2 times. Of the total demand, EUR 4.2 million came from Estonia, EUR 0.6 million from Lithuania, and EUR 0.1 million from Latvia.

The bond issue was organized by LHV Pank. The law firm Ellex Raidla advised the company throughout the public offering and listing process and serves as Volta SKAI’s certified adviser on the First North market.

Volta SKAI is an affiliated company of Endover, an Estonian real estate developer. The capital raised through the bond issue will be used to finance construction of the first tower of the Volta SKAI high‑rise project. The development will feature two 12‑storey towers and become a new landmark in Northern Tallinn, offering panoramic views of Tallinn Bay and the Old Town. Endover is the project’s development partner; ARS Projekt provided the architectural design; and construction began on December 2. The first tower is scheduled for completion in mid‑2027.

Nasdaq First North Market is tailored to support smaller, growing companies that want to raise capital and gain the visibility and credibility of being a public company. For investors, First North offers an opportunity to invest in companies at an earlier stage of their growth.

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Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more: nasdaqbaltic.com

Media Contact:

Ott Raidla
Marketing and Communications Manager
Nasdaq Tallinn / Nasdaq Baltic Market
ott.raidla@nasdaq.com
+372 5552 4824