Financial Supervision Authority registers public offering of AS Baltika securities and listing prospectus
On 15 July 2011, the Financial Supervision Authority registered a public offering of AS Baltika securities and the listing prospectus.
AS Baltika is offering up to 4,300,000 shares. In addition, existing shareholders will be issued 31,494,850 pre-emptive rights to subscribe existing shares. Investors may submit subscription undertakings with or without subscription rights. The pre-emptive subscription rights can be traded on the NASDAQ OMX Tallinn stock exchange from 19 July 2011 to 28 July 2011. The shares can be subscribed from 10 am on 19 July to 4pm on 2 August 2011. The trading of the shares in the IPO is expected to start on 19 August 2011.
In connection with the IPO, AS Baltika has announced that three issuing shareholders have taken the obligation to subscribe the shares being offered: KJK Fund Sicav-SIF will undertake to subscribe 2,142,857 of the offered shares; E.Miroglio S.A., 2,157,143; and East Capital Baltikum Fund, 333,000.
The Financial Supervision Authority draws the attention of investors to the fact that no evidence has been filed with the Financial Supervision Authority that would enable assessment of the capability of the said persons to perform the obligation they assumed, nor any written agreements that would set forth the consequences of a violation of the obligation.
The issuer has assumed the obligation in the prospectus to release the unaudited consolidated financial results for Q2 of 2011 on 25 July 2011. The investors have the right to cancel or amend the subscription undertakings until the end of the offer period, i.e. 4 pm on 2 August.
AS Baltika stock has been traded on the NASDAQ OMX Tallinn stock exchange since 5 June 1997.