Cancellation of the Baltic Core Property Fund public offering: new product needs more time

Following a review of the offering results, Lords LB Asset Management has decided to cancel the public offering of units in Baltic Core Property Fund, which it manages, in Lithuania, Latvia and Estonia. The decision was taken due to insufficient investor demand.

“We introduced a new product to Baltic retail investors, who may need more time to assess its structure and investment strategy. We will continue our dialogue with investors and take their feedback and market conditions into account when determining the timing and terms of the next offering. High-quality commercial properties, strong tenants and long-term leases provide a solid foundation for long-term investment, and we remain focused on these assets,” says Marius Žemaitis, the fund manager.

All subscription orders submitted during the offering will be cancelled, and no fund units will be allocated. Funds reserved in investors’ accounts will be released, and any funds transferred will be refunded in accordance with the procedures set out in the offering documents.

Investors’ funds will be released or refunded within five business days of the publication of the announcement cancelling the offering, unless the intermediary’s internal procedures provide for different timeframes.