Andmed seisuga: 23.11.2024 16:32 (GMT+2)

Hüvitusfond: Issue of XIV-series bonds oversubscribed

21.06.1999, Hüvitusfond, TLN
HÜVITUSFOND
ANNOUNCEMENT
21.06.99


ISSUE OF HÜVITUSFOND XIV-SERIES BONDS WAS OVERSUBSCRIBED

On preliminary data, the public issue of Hüvitusfond XIV-series
bonds
in total volume of 15 million EEK was oversubscribed by 9.5 million
EEK. Holders of Privatization Vouchers (EVP) subscribed for bonds
for
total of 24.5 million EEK; 78.4 million EVP worth of bonds were
subscribed for in the course of the ended issue. Total of 1480
investors participated in the issue, i.e. twice the number of
investors participating in the previous public issue of bonds (XII-
series). Private persons subscribed for 75% of the issue.

25% share of the issue subscribed by the financial institutions
proceeds mainly from the low liquidity of EVP market; on the other
hand, the financial institutions also participated in the previous
closed issue of Hüvitusfond XIII-series bonds.

Since the volume of issue was 15 million EEK, the Supervisory Board
of Hüvitusfond will soon make a decision about increasing the
volume
in order to satisfy the claims of all investors.

The initial offering of the bonds took place 07.-18.06.1999. Issue
price of one bond was 320 EVP. The annual coupon rate of the bonds
is
7% of the bond’s face value. The fund will also pay additional
interest, the size of which will be determined by the Supervisory
Board of the fund twice a year, based on the fund’s financial
results.

Q1 1999 profit of Hüvitusfond amounted to 42.6 million EEK, which
exceeds the last year’s result by approximately 10 million EEK.
Fund’s net worth increased in Q1 by 161.6 million EEK, totaling to
881.8 million EEK.


Andres Laisk
Tel. +372 6 651 812

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