Nasdaq Welcomes UAB Sostinės bokštai to the Nasdaq Baltic First North Market

09.08.2024 RIG, TLN, VLN

Vilnius/Riga/Tallinn, Nasdaq Baltic Market, August 9, 2024 – Nasdaq (NDAQ) announces that bonds issued by UAB Sostinės bokštai which is asocciated with one of the largest Lithuanian real estate development companies – Realco, have been admitted to trading on the Nasdaq Baltic First North market by Nasdaq Vilnius as of today, August 9.

UAB Sostinės bokštai raised a total of €19.5 million to finance the construction of the Hero Business Center through a three-tranche bond issue targeting investors from Lithuania, Latvia, and Estonia. The first two tranches of the private issue raised €13.5 million while the third tranche, which was public, raised an additional €6 million.

The public offering received 295 applications, with the majority of investors coming from Lithuania (76%), Estonian and Latvian investors accounting for around 24%.

The bonds have a nominal value of EUR 1,000 each and carry an annual interest rate of 6% + 6 months Euribor, which is paid out semi-annually. The bonds are secured by mortgaged land and buildings, and the maturity date of the bonds is 18 May, 2026.

The funds raised through the public offering will be used to finance the construction of the Hero Business Center, which will be located in the Vilnius business district. Hero will be the first building in the Baltic States to be awarded with the WELL Gold Healthy Buildings certificate and the BREEAM Excellent international sustainability certificate.

“We congratulate Realco on its successful debut on the public market of Nasdaq Baltic First North,” says Gediminas Varnas, President of Nasdaq Vilnius. ”The Hero Bussiness Center is a remarkable and unique project that demonstrates both ambition and sustainability, setting new standards in the Baltic States. We are delighted to support your innovative project and look forward to seeing your continued success and growth in the market.”

“The move to the stock exchange is another significant and consistently planned step in the financing of real estate projects developed by Realco. For us, participation in the international financial market is not only a recognition but also a responsibility to recruit investors’ funds into sustainable real estate projects that add value to the society. Hero, which is being built in the Vilnius business district, is a unique and ambitious example of such investment,” says Julius Dovidonis, CEO of Realco and Sostinės bokštai.

The public bond issue was organized in Lithuania, Latvia and Estonia by Redgate Capital and Šiaulių bankas while the law firm Sorainen acted as legal advisor and is also the company’s certified advisor on the First North market.

UAB Sostinės bokštai is a private limited company registered and operating under the laws of the Republic of Lithuania. It is a project company established for the development and leasing of the Hero Business Centre.

UAB Realco which manages the Hero project on a contractual basis, is one of the largest real estate developers in Lithuania, successfully developing both residential, public and commercial projects. Since its establishment in 2006, Realco has offered more than 243,800 sqm of residential and business spaces, and is currently developing a portfolio of 121,500 sqm of space.

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

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

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Media contacts:
Birutė Jocaitė-Šliurpienė
birute.jocaitesliurpiene@nasdaq.com
+370 61546123