Volta SKAI OÜ bond issue oversubscribed by 2.2 times

Ellex law firm in Estonia advised Volta SKAI OÜ on an €8 million bond issue that attracted exceptional investor interest, with subscriptions reaching €17.7 million—2.2 times oversubscribed.

The public offering, held from 17–26 September outside the regulated market, drew 112 investors from across the Baltics, including investment funds, asset management companies, and experienced private investors. Due to high demand, bonds were ultimately allocated to 61 investors, with a minimum investment threshold of €100,000.

Within six months of issuance, Volta SKAI OÜ plans to apply for the bonds to be admitted to trading on Nasdaq Tallinn’s alternative market, First North, enabling secondary market trading.

The proceeds will refinance existing obligations and fund construction of the first tower of Volta SKAI—an ambitious high-rise project featuring two 12-storey towers. Set to become a new architectural landmark in North Tallinn, the development will offer stunning panoramic views of Tallinn Bay and the Old Town.

The bond issue was advised by Partner Gerli Kivisoo, Senior Associate Kevin Gerretz, and Lawyer Hendrik Viimsalu.

Read more HERE.