The results of the public offering by Arco Vara AS and the distribution of new shares
October 18 2021 - 08:35AM
The results of the public offering by Arco Vara AS and the
distribution of new shares
The public offering of the shares of Arco Vara
AS ended at 4:00 p.m. on 15 October 2021.
Up to 1,000,000 shares were offered publicly.
During the offering, the offered volume was subscribed more than
4.84 time, ie a total of 4,835,950 shares. 6,860 investors
participated in the subscription.
Comment from CEO: “I am pleased that Arco Vara
has come more into the picture in the real estate and stock market
landscape over the past year. This is also shown by the interest of
more than 6,000 new investors and the large number of subscribers.
The set goal in the form of 1,000 new investors was significantly
exceeded, which increases the number of Arco Vara shareholders to
almost 10,000. It would be a sin to complain, considering that we
have increased the number of Arco Vara investors sevenfold in 10
months and we can confidently focus on the following projects.”
The new shares will be distributed among the
investors participated in the offering as follows:
- In the first order each new investor not holding Arco Vara
shares based on the list of shareholders as at the end of the
business day of the Estonian settlement system of Nasdaq CSD on 19
September 2021 (hereinafter New Investors) shall be distributed the
shares subscribed by them but not more than 100 shares.
6,116 New Investors participated in the offer
and a total of 532,775 shares will be distributed to them.
- In the second order, the Offer Shares will be
distributed among all investors who have submitted subscription
orders pursuant to the shares subscribed for by them, but no more
than 5,000 shares. As there were not enough shares to distribute up
to 5,000 shares among all investors who submitted the subscription
order, the Offer Shares will be distributed among the investors in
the second order on a proportional basis, taking into account the
number of shares subscribed for by them up to 5,000 shares and in
the event of New Investors, deducting the shares already
distributed to them in the manner described in the first order from
the number of shares subscribed for.
467,225 shares will be distributed in the second order. Every
second-order investor receives 12.93% of the originally subscribed
volume. The maximum number of shares to be distributed per investor
in the second order is therefore 646 shares.
- In the third order, the plan was to distribute all
remaining Offer Shares proportionally among the investors who
subscribed 5,001 or more Offer Shares, but as the first and second
order investors subscribed for more than 1,000,000 Offer Shares,
there were no shares left for the third order investors.
The settlement of the offering is planned to
take place on 20 October 2021 or at an adjacent date. The new
shares are planned to become tradeable on the Baltic Main List of
Nasdaq Tallinn, the first trading day will be 28 October 2021 or an
adjacent date.
Tiina Malm CFO Arco Vara AS Tel: +372 614 4630
tiina.malm@arcovara.com
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