Liven's Green Bond Public Offering Oversubscribed 2.1 Times

On Thursday, March 13, real estate developer Liven AS concluded its public offering of green bonds, in which 871 investors subscribed for bonds totaling €8,301,000. Thus, the emission's base amount of €4 million was oversubscribed by approximately 2.1 times. 

"We are very satisfied with the result, which exceeds the offering's base amount by more than two times, and delighted that Liven's bonds were subscribed by such a large number of both previous and new investors. We are also pleased that, alongside retail and individual investors, professional investors and financial institutions continue to trust Liven. For us, this is a sign that investors see Liven as a reliable and trustworthy partner," said Liven AS CEO Andero Laur.

In the framework of the public offering, Liven offered up to 4,000 unsecured bonds with a fixed interest rate of 9% paid quarterly. Due to oversubscription, Liven's board decided to increase the offering amount by 2,200 bonds, bringing the total to 6,200 bonds, which raises the emission's total volume to €6.2 million. Liven shareholders submitted subscription orders worth over €1.3 million, financial institutions over €1.7 million, and customers who purchased homes from Liven over €0.1 million.

The board of Liven AS decided to fulfill all investors' subscription orders to at least 60%. In the distribution, preference was given to Liven's clients and previous investors, whose orders were fulfilled to at least 67%, as well as employees whose subscription orders were fulfilled in full.

The bonds will be credited to investors' securities accounts on March 19, 2025, or a date close thereto, and their first trading day on Nasdaq Tallinn's Baltic bonds list will be March 20, 2025, or a date close thereto.

Liven's board chairman Andero Laur thanked all investors who participated in the public offering for their continued trust and Ellex Raidla law firm, legal counsel for the green bonds public offering.

"Although, compared to the first emission a year ago, markets today are marked by greater uncertainty, the fresh subscription result confirms that Liven's mission and value proposition resonate with investors and our chosen direction to offer both quality and personalization in real estate development while creating buildings as future-proof as possible and with environmental impacts in mind, is something that is seen as having potential both today and in the future," added Andero Laur.

Andero Laur explained that Liven will use the funds obtained through the public offering to finance the development of both new and ongoing projects and, where possible, expand the company's real estate portfolio. For example, one of Liven's larger investments using funds from the 2024 emission was the acquisition of a development property in Nõmme, where the pre-sale of Olemuse homes for registered interested parties begins this Monday, March 17.