Today, October 25, at 10.00, local fuel and alternative energy sources trader “Virši” launches initial public offering (IPO) of shares, which will be followed by the planned listing of shares on the stock exchange “Nasdaq Riga” “First North”.
–
–
Content will continue after the ad
Advertising
–
Within two weeks – from October 25 to November 5, any resident of the Baltic States can apply for the shares.
Private and institutional investors will have the opportunity to subscribe for a total of 1,509,121 new shares in the company. The total number of shares can be increased by another 226,368 additional shares in case of high demand, thus the total number of offered shares reaches 1,735,489 shares. The price of one share is 4.49 euros and the minimum subscription amount is one share.
It is expected that those employees of the “Virši” company group who will subscribe for shares will be guaranteed the first 50 thousand. shares. In turn, each investor who will subscribe for shares in the first week of the offer, ie by October 29 at 16:00, allotment of up to 100 shares is guaranteed. Interested parties also have the opportunity to apply for a larger number of shares, which will ensure that after the distribution of shares at the end of the IPO, their chances of receiving a proportionally higher total number of shares increase if the total demand exceeds the number of IPO shares during the subscription period.
Those investors who will own 100 or more shares will be able to become members of the “Virši” shareholder loyalty program, which provides special offers for the purchase of fuel and other goods in the “Virši” station network. For example, a 7-cent discount per liter of fuel, a 30% discount on snacks and coffee, as well as car care products, refillable windshield fluid and car wash.
As a result of the IPO, “Virši” plans to attract new capital in the amount of 6.9 million euros, directing most of the financing to the improvement of alternative fuels supply and infrastructure, promoting the availability of compressed natural gas (CNG), biomethane and LNG (liquefied natural gas) and electric vehicle chargers in Latvia. It is also planned to pay significant attention to increasing the sustainability and efficiency of operations by developing suitable IT solutions and installing solar panels.
“We see that despite the challenges of the pandemic, the demand for our new products and services is growing, so we are ready to continue the development of the company with an even faster growth rate,” emphasizes Jānis Vība, Chairman of the Board of “Virši”.
“Raising capital on the stock exchange will open up more versatile growth opportunities for the company, while investors will have the opportunity to become co-owners of the company and turn their savings into productive investments,” said Daiga Auziņa-Melalksne, Chairman of the Board of Nasdaq Riga.
–
