Latvian financial sector group JSC “DelfinGroup” plans to make initial public offering (IPO) of shares “Nasdaq Riga“on the stock exchange during 2021, the company’s representatives inform.
–
Content will continue after the ad
Advertising
–
The amount and price of the shares to be issued will be announced before the official announcement of the initial public offering of shares and in accordance with the prospectus approved by the regulator. JSC “DelfinGroup” already has seven years of experience in bond issues on the “Nasdaq Riga” stock exchange. The company has also been successfully cooperating with thousands of investors for many years, attracting financing through a mutual lending platform.
The purpose of attracting additional financing from JSC “DelfinGroup” is to strengthen the position of the market leader and to develop new consumer lending products for various groups of the society. Using new financial technology solutions, DelfinGroup plans to further develop its consumer lending business to compete more successfully in this segment, including traditional banks.
“The stable growth of JSC” DelfinGroup “and the experience of attracting financing so far on the Nasdaq Riga stock exchange allow us to take the next step in development and start listing the company’s shares. In Latvia, very few companies have dared to start listing on the stock exchange. We want not only to give private and institutional investors the opportunity to participate in our steady growth story, but also to inspire other Latvian companies to start the stock exchange.We plan that the profits of new shareholders will be not only an increase in share value, but also quarterly dividends. has paid 6.73 million euros, “says Didzis Ādmīdiņš, Chairman of the Board of JSC” DelfinGroup “.
“For many years, the Baltic stock market has lacked a representative of the financial sector directly from Latvia. Therefore, the new investment opportunity offered by DelfinGroup would be a fresh addition to investors. In addition, the company combines several factors important to investors: historical growth, planned regular dividends and active focus on sustainability. issues, “says Ivars Bergmanis, Head of Institutional Markets at LHV Bank, the planned IPO financial advisor.
Maris Vainovskis, a senior partner at Eversheds Sutherland Bitāns and a sworn attorney, explains that the company’s preparations for listing and the development of a prospectus are a thorough process before FKTK obtaining permission to make a public offer. Some of the benefits associated with a company’s listing are access to development capital, increased visibility and credibility of the company, which is valued by customers and partners.
The unaudited consolidated turnover of JSC “DelfinGroup” in 2020 was 24 million euros, the loan portfolio reached 34 million euros, and EBITDA increased to 9 million euros. Turnover increased by 8% year-on-year, while the company’s loan portfolio increased by 9%. Consolidated EBITDA increased by 8% during the year. The total number of customers served by JSC “DelfinGroup” in Latvia already exceeds 400 thousand, and the company issues an average of 35 thousand different types of loans per month.
–
