Estonia’s Baltika announces €3 million offering of convertible bonds

By Toni Weeks

San Luis Obispo, Calif., July 7 – AS Baltika announced it will issue €3 million of convertible bonds in a public offering in Estonia.

The company plans to sell 600 bonds at €5,000 each.

Existing shareholders will be entitled to subscribe to the bonds prior to other investors. According to a press release, KJK Fund, Sicav-SIF has submitted an obligation to subscribe for all the bonds and will participate in the offering with any additional investors.

The offering, which was approved at Baltika’s annual general meeting on April 28, begins on July 14 and will end July 28. AS LHV Pank will act as agent.

Baltika is a Tallinn, Estonia, fashion retailer that designs, manufactures and distributes its five retail brands in Central and Eastern Europe.

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