October 20, 2021
Trading of AS DelfinGroup shares starts on Nasdaq Riga Baltic Main List
As of Wednesday, 20 October shares of AS DelfinGroup, a Latvian financial services company, will be traded on Nasdaq Riga Baltic Main List. AS DelfinGroup is going to be one of the four Latvian companies with shares traded on the Baltic Main List.
The initial public offering (IPO) of AS DelfinGroup successfully closed on 14 October and was the largest IPO in the history of Latvia in terms of investor activity. 5,927 investors participated in the IPO and the company raised 8,09 million euros. 1,146 investors from Latvia subscribed for 1,903,485 IPO shares, 4,584 investors from Estonia - for 3,185,381 shares, 153 investors from Lithuania - for 141,807 shares and 44 investors from other countries - for 88,921. All investors were allocated the number of shares they subscribed for.
As DelfinGroup Chairman of the Management Board Didzis Ādmīdiņš: “We are pleased of the AS DelfinGroup team who managed to carry out the largest IPO in the history of Latvia in terms of investor activity and since 2004 in terms of volume. Almost 6000 shareholders will receive their first dividends as early as December this year. As planned, we will distribute dividends on a quarterly basis, and total dividend payments will reach at least 50% from the company’s annual profit. Careful analysis has confirmed that together with the funding from the IPO, we will be able to refinance the current liabilities on more favorable terms, continue on developing existing services and introduce new ones to grow our revenues and profits. We can reassure that we will reach the previously announced long-term targets, including doubling our loan portfolio by the end of 2024.”
On 19 October 2021 Nasdaq Riga decided to list AS DelfinGroup shares on the Baltic Main List as of 20 October 2021. As per the IPO prospectus AS DelfinGroup signed a Market Maker agreement with AS LHV Pank to enhance the liquidity of the shares in secondary trading. This provides investors with better opportunities to trade certain predetermined quantities of AS DelfinGroup’s shares on the stock exchange.
About AS DelfinGroup
AS DelfinGroup is a licenced technology-based financial services 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 Stock Exchange 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 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.