UAB Vli Timber announces that during the placement of the second EUR 4 million tranche of its public bond issue ISIN LT0000134256, investors submitted orders totalling EUR 5.599 million. Investor demand exceeded the offered amount by 1.4 times.
In total, 532 orders were received from 493 unique investors. The average order size amounted to EUR 10,524, while the average total order amount per investor was EUR 11,357.
As investor demand exceeded the offered amount of bonds, the bonds were allocated in accordance with the allocation rules. Aggregate client orders of up to EUR 10,000 were fulfilled in full. For clients whose aggregate order amount exceeded EUR 10,000, EUR 10,000 was allocated in full, together with 51.7% of the excess amount, rounded down to a whole number of bonds.
For example, if an investor submitted orders totalling EUR 100,000, such investor would be allocated EUR 10,000 plus 51.7% of the EUR 90,000 excess amount. In this case, the investor would receive bonds with a nominal value of EUR 56,000.
Demand by country was distributed as follows: Lithuania - EUR 4.822 million, or 86.12% of total demand; Latvia - EUR 577 thousand, or 10.31%; Estonia - EUR 200 thousand, or 3.57%.
Demand by investor type was distributed as follows: retail investors - EUR 4.921 million, or 87.89% of total demand; institutional investors - EUR 678 thousand, or 12.11%.
The bond placement was arranged by Artea Bank. The proceeds raised through the bond issue will be used to finance the company’s investment project - the construction of a new production facility in Jonava district, Lithuania.
For more information:
Darius Lackus
CEO, UAB Vli Timber
+370 672 34196