LONDON - Metro Baltic Horizons PLC said it has bought an 80% shareholding in an 26 mln eur residential development project in Tallinn, resulting in full investment of all its initial public offering funds.
Separately, the property investment company, which listed on the AIM on December 2006, reported a pretax profit of 7.28 mln eur for the six month period ended June 30. As at June 30, it said net asset value after deferred tax liabilities was up 20 pct to 112 pence or 1.67 eur.
The company added it looks forward to the future with considerable confidence, saying it continues to see extensive deal flow and attractive investment opportunities in its target cities.
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