On Tuesday, 27 May 2025, the public offering of Everaus Kinnisvara AS (hereinafter referred to as Everaus Kinnisvara) bonds was concluded. This marked the first series under the Everaus Kinnisvara bond programme.
Within the offering, Everaus Kinnisvara offered up to 3000 unsecured bonds with a nominal value of 1,000 euros each, maturing on 4 June 2028 and bearing a fixed annual interest rate of 11%, payable quarterly (the first interest payment will be made on 4 September 2025). In the event of oversubscription, Everaus Kinnisvara had the right to increase the offering by an additional 2000 bonds. The public offering was available to investors in Estonia, Latvia, and Lithuania.
A total of 1601 investors participated, subscribing for bonds in the amount of 9 474 000 euros. The base issue volume of 3 million euros was oversubscribed by 3,16 times. Everaus Kinnisvara decided to exercise the right to increase the offering by 2000 bonds, resulting in a total issue volume of 5 million euros. The subscribed amounts ranged from 1000 to 500 000 euros.
The allocation of bonds was based on the following principles:
- All subscription orders by the same subscriber were summed up.
- All necessary rounding was done upwards.
- Subscription orders from Everaus Kinnisvara employees, homebuyers, previous investors, and institutional investors were fully allocated in the amount of 796 000 euros.
- Bonds worth 4 204 000 euros that remained unallocated based on the previous principles, were distributed among the remaining investors. Each investor received at least 40% of their subscribed amount and not less than 1 bond per investor.
The bonds are expected to be transferred to investors’ securities accounts on or around 4 June 2025. The expected first trading day on Nasdaq Tallinn’s alternative market First North Bond List is 5 June 2025.
Janar Muttik, Founder and CEO of Everaus Kinnisvara, commented:
“We are very pleased with the results of our first bond issue, which was oversubscribed by more than three times. It is encouraging to see that a remarkable number of both returning and new investors have shown their trust in us. We are also glad that among the subscribers were not only Everaus Kinnisvara clients and employees but also institutional investors who found the offer attractive. The outcome of the subscription confirms that investors believe in our growth prospects and our strategy of developing high-quality and sustainable living and business environments. We sincerely thank all investors who participated in the public offering – such trust is the highest recognition.”
The public offering was advised by Redgate Capital AS and the law firm TRINITI.
Summary of the Subscription Results:
- Total subscribed: 9474 bonds (9 474 000 million euros)
- Base issue volume: 3000 bonds (3 million euros)
- Oversubscription rate: 3,16 times the base volume
- Final issue volume: 5000 bonds (5 million euros)
- Total number of investors: 1601 unique subscribers
- Average subscription amount: 5918 euros per investor
- Subscription by country: Estonian investors 84,19%, Latvian investors 12,70%, Lithuanian investors 3,11% of the total subscribed volume.
Additional information:
Janika Roots, CFO, Everaus Kinnisvara AS
janika@everaus.ee