The €8 million secured bond issue of Volta SKAI OÜ, Estonian company operating under the brand of local real estate developer Endover, was oversubscribed 2.2 times. 112 investors participated in the offering with a minimum investment of €100,000, subscribing for bonds worth a total of €17.7 million. Due to high demand, it was decided to allocate bonds to 61 investors.
Volta SKAI OÜ conducted an over-the-counter public bond offering from September 17-26 with a minimum investment of €100,000. The issue was participated in by investment funds, asset management companies, bond funds and sophisticated retail investors from all Baltic countries.
“We are grateful for the investors’ trust. The more than two-fold oversubscription with a minimum investment of €100,000 confirms the strong interest of experienced and knowledgeable investors in Endover’s development projects. This is already the third successful issue this year for Endover’s subsidiaries, and we are pleased to see that a considerable number of repeat investors have emerged for our bonds,” said Endo Tõnuver, Chairman of the Board of Endover and owner of Volta SKAI OÜ.
“Due to high demand, it was not possible to satisfy all subscription applications. The total volume of the Volta SKAI bond program is planned to be €30 million together with subsequent funding rounds. Investors who were left out this time will have the opportunity to participate next time,” added Tõnuver.