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Pro Kapital Grupp IPO could be a catalyst for investment in Baltic real estate property | 3 September 2012

The initial public offering of Estonian real estate firm Pro Kapital Grupp (PKG) could tempt investors back into the Baltic commercial property market, it has been claimed.

Many property investors have been keen to avoid the Baltic market since its dramatic crash during the financial crisis of 2008.

However, Baltic investment expert Mikus Janvars predicted that PKG’s huge IPO could be a sign that the market is beginning to show signs of life.

Speaking to ft.com, he said: “The stock does have a pretty unique profile in terms of providing wide exposure to the Baltic macroeconomic rebound and the timing is also special as there aren’t many opportunities out here.

“But based on post-correction price levels, real-estate in the Baltics should not be any more risky than anywhere else in the world, perhaps even less so, as the starting price level is low and the region is bound to be on a steady convergence track with the Nordics in terms of prices.”

PKG’s move onto the stock market represents the first in the Baltic region since 2010 and the biggest Baltic IPO for five years.

Writing for bne.eu, Business New Europe journalist Mike Collier is another property expert to have tipped the move to be a catalyst for increased activity in the Baltic market.

Written by Joe Elvin on behalf of Qube Global Software

While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.

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