Invego Uus-Järveküla OÜ, financed by EfTEN United Property Fund, and Coop Pank AS signed the terms of amending the loan agreement for the Uus-Järveküla residential area, which, among other things, will allow the fund to make the largest profit distribution in its history to investors.
EfTEN Capital AS, as the management company of the EfTEN United Property Fund (stock market ticker EFCUPFFT, ISIN code EE3500001609) decided to make a cash distribution of 5,726 euro cents per unit, totalling 142 226 euros. The distribution constitutes 0,54% of the fund’s current NAV and 0,71% of the fund’s latest closing price.
EfTEN United Property Fund invested 4.78 million euros in EfTEN Real Estate Fund 5 aimed at institutional investors. The latter acquired the newly completed UNA retail park at Dangeručio 1 in Vilnius (property with retail centre building). The center’s anchor tenants are Kesko Senukai and Rimi.
After the transaction ca 90% of the EfTEN United Property Fund is invested. As the investment is to another fund managed by the EfTEN Capital AS, the EfTEN United Property Fund does not charge a management fee on the investment in line with its fund terms and conditions.
EfTEN Capital AS, as the management company of the EfTEN United Property Fund (stock market ticker EFCUPFFT, ISIN code EE3500001609) decided to make a cash payment of 23,495 euro cents per unit from the fund to the unitholders. The payment constitutes 2,14% of the fund’s current NAV and 2,5% of the fund’s latest closing price. Since the listing of fund at Nasdaq Tallinn Stock Exchange in May 2022, the fund has distributed 32 euro cents per fund unit.
EfTEN Capital AS, as the management company of the EfTEN United Property Fund (stock market ticker EFCUPFFT, ISIN code EE3500001609) decided to make a cash payment of 8,531 euro cents per unit from the fund to the unitholders. The pay-out is based on the full distribution of free cash flow to be received from the fund’s investments to the EfTEN Kinnisvarafond AS and the EfTEN Real Estate Fund II AS, as decided at the annual general meetings of these funds.
On Friday (May 20, 2022), the first interim period of the public offering of the EfTEN United Property Fund units ended. The offering size was up to 460,000 offered fund units. In case of oversubscription, the management company (the EfTEN Capital) had the right to upsize the offering by 300,000 offered fund units.
Investors submitted a total of 2,716 subscription orders and subscribed for 1,217,730 offered fund units. Thus, the volume of the offer was recorded more than 2.65 times.
Based on the offering prospectus as registered with the Financial Supervision Authority on 18.04.2022, the EfTEN Capital AS carried out the public offering of the EfTEN United Property Fund units during the first interim period of the offering between 09.05.2022 at 9:00 and 20.05.2022 at 11:00. The offer was organised to all legal and natural persons in Estonia. The offer size during the interim period was up to 460,000 offered fund units, with the option to upsize by 300,000 offered fund units to be decided upon the distribution of the IPO.
During the interim period, a total of 2 716 subscription orders were submitted and 1 217 730 offered fund units was subscribed for. The volume of the offer was oversubscribed by 2,65 times. Employees and related parties of the EfTEN Capital AS subscribed for ca 15% of the total subscribed units.
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