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Kristaps Bergmanis
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There will be a webinar on frequently asked questions about the ongoing AS DelfinGroup IPO

AS DelfinGroup invites investors, media representatives and other stakeholders to join its investor conference webinar scheduled on October 6, 2021 at 11:00 AM in English and at 1:00 PM in Latvian (EEST). To join the webinar please follow the instructions below.

 

During the webinar AS DelfinGroup representatives will inform about the announced Initial Public Offering of shares and will explain the frequently asked questions received from investors in the current IPO process. During the webinar attendees will be presented practical details on subscription to shares as well as will have an opportunity to ask questions.

 

Webinar will be hosted by Didzis Ādmīdiņš, Chairman of the Management board and Kristaps Bergmanis, Member of the Management board.

 

Due to the limited webinar time please send in your questions in advance until October 5 at 05:00 PM (EEST) via e-mail: marta.muizniece@nasdaq.com.

 

What is a webinar? Webinar is a virtual conference, during which company’s representative gives information about the company, its activities and future plans. Webinar allows interactive communication and provides an opportunity to ask questions and get answers directly from the company.

 

How to join the webinar? All you need is a computer or mobile device with an internet connection.

 

To join the webinar in English, we invite you to register via https://register.gotowebinar.com/register/3468218532927966732

 

To join the webinar in Latvian, we invite you to register via https://register.gotowebinar.com/register/2754819104946434575

 

You will be provided with the webinar link and instructions to join webinar successfully. When joining the webinar for the first time, you will be asked to download the system application on your computer which will take only few seconds.

 

As reported today a research report on AS DelfinGroup and its valuation by LHV analysts was published on AS DelfinGroup website (www.delfingroup.lv). According to it the company's post-money valuation (or valuation after the raised capital in the IPO process) is estimated between 80-90 million euros, assuming that at least 12.5 million euros will be raised during the IPO (so the company is able to achieve its financial targets). Didzis Ādmīdiņš, Chairman of the Management Board of AS DelfinGroup, comments: “The IPO share price is 1.52 euros, which means that the company currently values itself pre-money at approximately 60 million euros. If the new capital raised is added arithmetically, the value stands at around 73 million euros. However, LHV Bank's analysts (taking into account their value range midpoint, i.e. 85 million euros) believe that the value of the company is higher than the IPO price. We respect the opinion of independent analysts about the value of the company. We have read the report and believe that it is of good quality. It is common practice that the IPO share price is lower than the fair value of the shares, as this is how rewards in the form of so-called IPO discount are passed to the investors who trust and dare to become shareholders of a company in the IPO process.”

 

The number of shares to be issued in the IPO is up to 8 395 000, and the total planned number of shares of the company after the IPO will be up to 48 395 000. Accordingly, the fair value of one share currently might be approximately in the range of 1.65 to 1.86 euro (given the new capital raised is at least 12,5 million euros).

 

The minimum subscription amount per investor is 1 share. However there is no limit for the maximum amount of share subscription.

 

According to the Financial and Captial Market Commision (FCMC) approved IPO prospectus AS DelfinGroup will make its initial public offering (IPO) from 28 September to 11 October (including). Any private investors from Latvia, Lithuania, and Estonia and institutional investors from Latvia and selected member states of the European Economic Area (EEA), as well as other institutional investors in accordance with the prospectus for the initial public offering (IPO) can subscribe for the offer shares.

 

About AS DelfinGroup

AS DelfinGroup is a licenced technology-based financial service company that was established in 2009 and operates under the brand names Banknote and VIZIA. The company continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), as well as sale of pre-owned goods both online and at more than 90 branches across Latvia. On average, 35,000 thousand loans are issued every month and serviced by the professional team of more than 250 AS DelfinGroup employees. The company has a total of over 400,000 registered customers. Since 2014, AS DelfinGroup has been known on the Nasdaq Riga as a bond issuer. The company regularly pays dividends to its shareholders. In 2020, the company's net loan portfolio grew to EUR 34.6 million, while its EBITDA reached EUR 9.3 million, with profits before income tax for dividends of EUR 4.65 million. The company’s sustainability is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion and facilitating the circular economy. The company has been profitable every year since 2010.

 

For further information, please contact:
Kristaps Bergmanis,
AS DelfinGroup Management Board Membe
Tel: +371 26189988
WhatsApp: +371 26189988
E-mail: ipo@delfingroup.lv

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