Longo Group bonds are included in the Baltic First North market

As of today, March 31, AS “, the leading used car dealer in the Baltics,Long Group“bonds are listed on a stock exchange”Nasdaq Riga Baltic First North “bond list, the company’s representatives inform.

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The amount of the issue is three million euros and the maturity date is November 30, 2024. “The funding raised through the bonds will be used to expand the range of cars offered in the Baltics, ensuring an even more private vehicle offering in line with customer demand and global market trends,” comments Edgars Cērps, Founder and Chairman of the Board of Longo Group.

“This is a very important step in the development of our business,” adds Cērps. “The inclusion of our bonds in the stock exchange list will allow the company to continue its rapid growth and maintain its leading position in the used car market in the Baltics. So far, at the beginning of this year, we have doubled our turnover, “Doors to another world, providing even better customer service and an even wider range of cars. This is also important to us strategically, because recognition in the international market will allow us to gain a reputation as a reliable partner among investors, which will facilitate financing and future development.”

Longo Group is the fastest growing used car sales group in the Baltics. In 2021, it doubled its revenue compared to the previous year, reaching a turnover of 30 million euros. The company showed a profit for the first time, despite the impact of Covid-19 on the group and the industry as a whole. Its sales of used cars in one month more than double the number of units sold by other players in the industry, and have been able to deliver more than 9,500 vehicles to customers since its inception. The company was one of the first in the region in the first half of 2020 to provide customers with 100% online car purchase services, offering 360 ° viewing options and online car booking.

The amount of bonds issued by Longo Group is three million euros. The nominal value of one bond is 1,000 euros. The coupon rate is 6% with a monthly payout and maturity date of November 30, 2024.

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