Pro Capita Bonds Were Oversubscribed Twofold, Issue Size Increased to 10 Million Euros

The public offering of bonds by AS Pro Kapital Grupp, which ended on Friday, was oversubscribed twice by retail and professional investors in the Baltic countries, so the company decided to increase the total volume of bonds to be issued to 10 million euros.

A total of 985 investors participated in the offering, subscribing for bonds worth a total of 11,976,000 euros, meaning that the base volume of the offering, or 6 million euros, was oversubscribed twice. Of the subscription amount, 9.3 million euros or 77.5% was subscribed in Estonia, 1.7 million euros or 14.2% in Lithuania, and 1 million euros or 8.3% in Latvia. In the allocation of bonds, all subscription orders submitted by the same subscriber were summed; investors who subscribed for at least 100 bonds were allocated 100% of their subscribed amount, and all other investors were allocated 56.5% of their subscribed amount, but at least 3 bonds and no more than the investor's subscribed amount.

"The successfully oversubscribed bond issue twice over allowed us to concentrate the company's financing in the Baltic countries, where Pro Kapital's business and real estate portfolio are also located. In the near term, we will complete the repurchase of bonds listed in Sweden and the termination of its listing there, and will continue with the design, construction, and sale of planned development projects in Tallinn, Riga, and Vilnius," commented on the results of the issue Edoardo Axel Preatoni, member of the board of Pro Kapital Grupp (pictured in the attached photo). "We thank all investors who subscribed for the bonds for the great interest and trust, as well as their contribution to the implementation of Pro Kapital's future plans," he added.

"This is the largest bond issue this year among residential real estate developers in the Baltics, and its 8.3% interest rate also represents the smallest risk margin in the sector in relation to the base interest rate. The demand from both institutional and retail investors sent a clear message: investors appreciate Pro Kapital's profitability and strong balance sheet," said Silver Kalmus, head of bonds at LHV Bank.

The funds raised through the issue will be used together with Pro Kapital's own funds to fully redeem existing secured bonds (ISIN SE0013801172; outstanding nominal value of 10,545,000 euros, plus accrued interest) and to terminate their listing on the Nasdaq Stockholm exchange.

The bonds will be credited to investors' securities accounts on September 25, 2026, or on a nearby date, and the first trading day of the bonds on the Nasdaq Tallinn stock exchange in the Baltic bonds list is September 25, 2026, or a nearby date.

Estonian residents who are individuals and who have purchased or plan to purchase Pro Kapital bonds in the future through an investment account have the opportunity, in accordance with the Income Tax Act, to defer the income tax obligation arising from interest and to receive bond interest in full to their investment account. For this, a corresponding application must be submitted to the issuer. The form of the application is available on Pro Kapital's website: https://www.prokapital.com/et/bond-issue2026/

The offering of Pro Kapital bonds was conducted in accordance with the base prospectus for public offering and admission to trading approved by the Financial Supervision Authority on September 7, 2026 (hereinafter the prospectus). In the framework of the offering, up to 6,000 bonds with a nominal value of 1,000 euros per bond were offered to retail and professional investors in Estonia, Latvia, and Lithuania, with a fixed interest rate of 8.3% per annum, with a redemption date of September 25, 2028. Interest is paid quarterly, with the first interest payment made on December 28, 2026. The base volume of the offering was 6 million euros, and in the event of oversubscription, Pro Kapital had the right to increase the issue volume to up to 10 million euros, or to issue up to 10,000 bonds.