TGS Baltic is implementing another exceptional capital markets project – an SPO of INVL Baltic Real Estate is about to start

05 / 18

TGS Baltic advises the lead manager UAB INVL Asset Management in carrying out the secondary public offering (SPO) of outstanding shares of INVL Baltic Real Estate managed by it in Lithuania, by which the major shareholder of the company AB Invalda INVL seeks to sell a part of its interest in the company.

Upon implementation of this public offering, which will be carried out in several stages in 2018, about EUR 7 million is going to be raised. In this process, for the first time in the Baltic States, one of the essential investors (AB Invalda INVL) should withdraw from its investment into a listed company by implementation of a SPO.

TGS Baltic Partner Vidmantas Drizga and Senior Associate Mantas Gofmanas in this process were advisers to the lead manager on the Lithuanian law issues and structured the transaction, drafted the prospectus of the company, as well as all other documents in connection with the project, represented the company in the Bank of Lithuania and performed all other necessary related actions.

INVL Baltic Real Estate is a real estate investment company founded as far back as in 1997. INVL Baltic Real Estate seeks to earn from investments into commercial real estate, securing growth of lease income. If it proves economically reasonable, the company also considers investments into transformation of objects in its current portfolio, making use of their good location. At the end of 2016, the Bank of Lithuania issued INVL Baltic Real Estate a licence of a closed-end type investment company, granting it the right to act as a closed-end type investment company according to the Law of the Republic of Lithuania on Collective Investment Undertakings.