We advised Northern Horizon Capital in connection with a secondary public offering raising EUR 17 million and listing of the new units of the Baltic Horizon Fund on Nasdaq Tallinn and Nasdaq Stockholm stock exchanges. Baltic Horizon Fund is a real estate fund with a focus on commercial properties in the capitals of the Baltic States. It is managed by licensed alternative investment funds manager Northern Horizon Capital.

Multinational transaction

The transaction involved offering units to retail and professional investors in Estonia, Sweden, Denmark and Finland as well as to professional investors in certain other European countries under the AIFM Directive regime, and to other types of investor under exemptions available in specific countries where units were marketed.

We acted as the lead counsel for the project and advised the client throughout the process, including drafting and registering the prospectus and in discussions and negotiations with the Estonian Financial Supervision Authority, Euroclear Sweden AB, Nasdaq Tallinn and the managers of the offering. Baltic Horizon Fund is the first alternative investment fund listed on Nasdaq Stockholm’s list for alternative investment funds (AIFM market) and first issuer dual listed on Nasdaq Tallinn and Nasdaq Stockholm.

Our team representing the client

Sorainen project team was led by partner Reimo Hammerberg and senior associate Kätlin Krisak.