Invego Latvia OÜ (registry code 17199263, address Staapli tn 10, 10415, Tallinn, Estonia; Invego) hereby announces its secured bond public offering (Offering). The Offering will be conducted based on the information document prepared by Invego, which has been published on the date of this announcement on Invego's website at www.invego.ee/investor. The bonds will only be offered to retail and institutional investors in Estonia, Latvia, and Lithuania.
Main Terms of the Offering
As part of the Offering, Invego is offering up to 4,000 secured bonds with a nominal value of EUR 1,000. In case of oversubscription, Invego has the right to increase the number of bonds to 8,000 at most. The redemption period of 4 years and the redemption date is on or about 29.05.2029. The bonds carry a fixed interest rate of 11.0% per annum paid quarterly. Invego has the right to cancel the Offering in case it is not fully subscribed. The bonds are offered at a price of EUR 1,000 per bond.
The bonds will be issued in dematerialized form and registered with Nasdaq CSD SE under ISIN code EE0000000933.
The subscription period for the bonds begins on May 12, 2025 at 10:00 and ends on May 22, 2025 at 15:30.
The bonds are secured by a first-ranking commercial pledge over 100% of the shares of Invego Latvia SIA. The obligations arising from the bonds rank pari passu with all other secured debt obligations of Invego.
More detailed information about the Offering is described in the information document and its summary as well as in the issue terms and the final terms.
Indicative Timeline of the Offering:
Beginning of the Offering Period
May 12, 2025 at 10:00
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End of the Offering Period |
May 22, 2025 at 15:30 |
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Announcement of the Offering Results |
May 26, 2025 |
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Settlement of the Offering |
May 29, 2025 (on or about) |
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First Trading Day |
May 30, 2025 or later (at least within 6 months of the settlement) |
Invego, in cooperation with Äripäev, will organize a company and offering presentation event on May 13, 2025 at 17:00 in Tallinn, at the Wise Estonian headquarters building (Kopli 68a), located at the edge of Krulli Park anddeveloped by Invego. The event broadcast can be followed at https://player.livepush.io/live/emIt8JiyboOWK9td. A similar event will take place on May 14 at 17:00 in Riga, at Invego's office (Strēlnieku iela 8); more detailed information is available at the following link: https://kampana.investoruklubs.lv/invego-pasakums/
Submission of Subscription Orders
To subscribe for bonds under the Offering, an investor must have a securities account with an account manager who is a member of Nasdaq Tallinn Stock Exchange; the list of members of Nasdaq Tallinn Stock Exchange is available here: https://nasdaqbaltic.com/statistics/et/members.
An investor wishing to subscribe for bonds must contact the account manager that manages the investor's securities account and submit a subscription order for the bonds during the offering period in the form below. By submitting a subscription order, the investor authorizes the account manager managing the investor's securities account to immediately block the total transaction amount on the investor's settlement account until the settlement is completed or the funds are released in accordance with the terms set out in the information document.
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Owner of the securities account: |
Name of the investor |
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Securities account: |
Number of the investor’s securities account |
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Account manager: |
Name of the investor’s account manager |
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ISIN code: |
EE0000000933 |
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Amount of securities: |
The number of bonds which the investor wishes to subscribe for |
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Price (per Bond) |
EUR 1,000 |
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Transaction amount: |
The number of bonds which the investor wishes to subscribe for, multiplied by the issue price per bond |
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Counterparty: |
Invego Latvia OÜ |
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Securities account of the counterparty: |
99113543326 |
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Account manager of the counterparty: |
AS LHV Pank |
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Value date of the transaction: |
29 May 2025 |
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Type of transaction: |
“subscription” |
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Type of settlement: |
“delivery versus payment” |
Listing and Admission to Trading of the Bonds
On May 7, 2025, Invego submitted an application to Nasdaq Tallinn AS to list and admit to trading all bonds issued under the Offering on the Nasdaq Tallinn Exchange's alternative market First North. The expected date of admission to trading is May 30, 2025 or a later date.
Although Invego makes every effort to have the bonds admitted to trading, Invego cannot guarantee the admission of the bonds to trading.
Use of Raised Capital
Operating in three countries with more than 30 development projects, Invego will direct the raised funds for additional financing of real estate development projects in Latvia. The capital strengthens the company's position in the Latvian market, where 12 development projects are currently in progress – 6 in the sales phase and 6 in the development phase.
The raised money will be used to finance development activities, ensuring the successful implementation of the construction phases and providing necessary co-financing alongside bank loans and existing investors. The investments cover planning, design, marketing, and construction equity.
Management Comment
"With more than 10 years of experience, Invego has proven its ability to successfully create comprehensive living and business environments that grow in value over time. Today is the right time to support expansion in the Latvian market, where we see significant growth potential," said Invego's CEO Kristjan-Thor Vähi. "Our experience in Riga demonstrates that real estate there is currently more affordable compared to Tallinn, demand is higher, and customer expectations for improved living standards are growing rapidly. Invego will sell more homes in Latvia than in Estonia this year."
Availability of the Information Document
The information document together with its summary and the bonds terms have been published and is available in electronic form on Invego's website at https://www.invego.ee/investor. In addition, the information document together with its summary and the bonds terms are available through the exchange information system.
Before investing in the bonds, please read the information document and the terms of the offering in full and, if necessary, consult with an expert.
Kristjan-Thor Vähi
Member of the Management Board
e-mail: kristjan@invego.ee
https://invego.ee/
Important Information
This announcement is a securities advertisement within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 and does not constitute an offer of bonds or an invitation to subscribe for bonds. Before making an investment decision, we ask the investor to read the issue terms, information document and its summary and, if necessary, consult with an expert. Each investor should make an investment decision based solely on the issue terms, information contained in the information document and its summary.
The information contained in this announcement is not intended for publication, distribution, or transmission, in part or in whole, directly or indirectly, in the United States of America, Canada, Hong Kong, Japan, Singapore, South Africa, or in any other countries or circumstances where publication, distribution, or transmission would be illegal. Invego's bonds are offered publicly only in Estonia, Latvia, and Lithuania, and no sale or offer of bonds will take place in any jurisdiction where such an offer, invitation, or sale would be illegal without an exception or qualification contained in law.
