OREANDA-NEWS.  INVL Baltic Real Estate, AB applied for issuance of the closed-end investment company license.

According to the decision made on the shareholders meeting dated 28 October 2015, the Board of INVL Baltic Real Estate applied to the Bank of Lithuania for issuance of the closed-end investment company license.

Upon issuance of this license management of the Company will be transferred to INVL Asset Management, UAB – a licensed asset management company, controlled by the subsidiary of one of the largest investment and asset management groups in Baltic countries Invalda INVL, AB.

There is expected to select Swedbank, AB as the custodian of INVL Baltic Real Estate, AB assets.

INVL Baltic Real Estate shares will remain listed on NASDAQ Vilnius stock exchange. It is expected that INVL Baltic Real Estate will be first listed closed-end real estate investment company in Baltic countries.

New Articles of Association, administration agreement with INVL Asset Management, UAB and depository agreement with Swedbank, AB will be provided for approval on the Shareholders Meeting of INVL Baltic Real Estate, AB.