Ellex has advised real estate development company Hepsor on the initial public offering of its shares to new investors and listing on the Baltic Main List of the Nasdaq Tallinn stock exchange.
According to Ellex, “the subscription price per share is EUR 11.7. The company wants to raise up to EUR 10 million from new investors.” The subscription closed on November 19, 2021, the results and share distribution are to be announced on November 22, and trading should begin on November 26, 2021.
“We intend to use the funds to finance our continued rapid growth as, in the next four to five years, we plan to develop more homes and commercial premises than we have done in the previous ten years of operation,” Hepsor Chairman of the Management Board Henri Laks commented.
According to the firm, Hepsor's portfolio includes 22 new development projects at a preparatory stage, the total area of which will be approximately 140,000 square meters.
The Ellex team included Partner Gerli Kivisoo and Associate Kevin Gerretz.
Ellex could not provide additional information on the matter.