Tallinn/Riga/Vilnius, Nasdaq Baltic Market, March 2, 2023 – Nasdaq (Nasdaq: NDAQ) announces that bonds issued by Eco Baltia, the largest environmental and waste management group in the Baltics, have been admitted to trading on the Nasdaq Baltic First North market by Nasdaq Riga as of today.
The size of Eco Baltia bond issue is EUR 8 million. The nominal value of bonds is 1 000 EUR with annual coupon rate 8%, paid twice a year. Maturity date of the bonds is set on February 17, 2026.
The listing of Eco Baltia bonds follows its public offering to Latvian and Lithuanian investors. Based on demand for the bonds, the offering was oversubscribed more than 3.5 times with total volume of 28.49 million EUR from more than 250 private and institutional investors.
CEO of Nasdaq Riga Daiga Auziņa-Melalksne: "We are excited to partner with Eco Baltia and delighted to celebrate their successful entry to stock exchange. We look forward to growing our partnership and supporting Eco Baltia growth and we wish the company success in achieving their further business and sustainability goals!”
„Joining the capital markets and listing our inaugural bonds on Nasdaq stock exchange is significant milestone for Eco Baltia, signaling confidence in our growth prospect and providing access to a wider range of investors in the future. We are determined to fulfill our strategic goals by expanding our operations and promoting circular economy in international level and balance our growth ambitions with strong ESG strategy, financial discipline and transparency, ensuring that we meet our obligations to the investors and other stakeholders,” says Māris Simanovičs, Chairman of the Management Board at Eco Baltia.
“Funds raised from investors will be used for acquisitions to achieve the strategic goal of developing the environmental and waste management group as a strong regional leader. Listing the bonds on the public market will also undoubtedly increase Eco Baltia’s visibility to investors,” says Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund and Chairman of the Supervisory Board of Eco Baltia.
Eco Baltia group is the largest environmental and waste management group in the Baltics, providing the full-cycle waste management solutions from waste collection and sorting to secondary raw material logistics, wholesale and raw material processing as well as PET and PE/PP plastics recycling.
In the first nine months of 2022, the Eco Baltia group reached its highest consolidated net turnover up to date – €154.9 mn. Consolidated net turnover almost doubled, compared to first 9 months of 2021, when consolidated net turnover was €78.5 mn. In September 2022, the group expanded its operations outside of the Baltics, with its PET recycling arm AS PET Baltija, one of the largest PET recyclers in Northern Europe, completing the acquisition of a leading Czech fibre producer TESIL Fibres. In January 2023 Eco Baltia also completed acquistion of Latvian street and road maintance company Pilsētas Eko Serviss.
The group companies employ more than 2,300 employees in Latvia, Lithuania, and Czech Republic. Its leading companies are PET Baltija, Eco Baltia vide, Pilsētas Eko Serviss, Latvijas Zaļais punkts, Nordic Plast, JUMIS, Czech TESIL Fibres and Lithuania-based Ecoservice.
Shareholders of Eco Baltia are private equity fund INVL Baltic Sea Growth Fund (52.81%), the European Bank for the Reconstruction and Development (30.51%) and management of the company (16.68%).
Nasdaq First North Market is tailored to support smaller, growing companies that want to raise capital and get the visibility and credibility of being a public company. For investors, First North offers an opportunity to invest in companies that are at an earlier stage of their growth.
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn,Twitter @Nasdaq, or at Nasdaq.com.
Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more: nasdaqbaltic.com