Shares in Finland’s first REIT now trading on NASDAQ OMX Helsinki
Trading in shares of Finland’s first real estate investment trust, REIT, Orava Residential Real Estate Investment Trust Plc (OREIT), has started on the main market of NASDAQ OMX Helsinki.
Orava Residential Real Estate Investment Trust is a small cap company within the sector Financials, and it was founded in 2010.
The company invests mainly in rental apartments in large and medium-sized cities in Finland. Its operations are regulated by the Act on Real Estate Fund and the Act of REIT Tax Exemptions set requirements to the operations. The company distributes dividends four times a year, based on the results for the previous financial year. Orava REIT has more than 1,500 shareholders and it owns more than 650 apartments.
Veli Matti Salmenkylä, CEO of Orava Residential Real Estate Investment Trust Plc, says: “We are pleased to be the first Finnish REIT on NASDAQ OMX Helsinki. Through our listings all investors will have easy and efficient access into real estate market.”
Lauri Rosendahl, President of NASDAQ OMX Helsinki, says: “We would like to extend a warm welcome to Orava which is an exciting addition to our main market at NASDAQ OMX Helsinki. We congratulate Orava on the successful completion of its IPO and look forward to a lasting partnership with the company and its shareholders.”