The Financial and Capital Market Commission (FKTK) Approved on 21 September by JSCDelfinGroupJSC “DelfinGroup” is entitled to make a public offer of up to 8,395,000 shares within the framework of the prospectus.
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From now on, JSC “DelfinGroup” can offer shares to investors in Latvia, Lithuania and Estonia, as well as include shares in the Official Baltic List.
A share prospectus is a document that discloses information about the issuer of shares and the share itself. The purpose of this document is to provide information to investors so that they can make a decision to purchase shares. The content of the prospectuses is determined by the Prospectus Regulation no. 2017/1129
JSC “DelfinGroup” share prospectus published On the FCMC website.
“We are pleased that AS DelfinGroup will be the first company to hold an IPO on Nasdaq Riga after a 4-year break. Both the readiness of our company and the quality of the share issue prospectus and compliance with regulatory enactments have been positively assessed, so that JSC “DelfinGroup” will start with the public share offer on the Nasdaq Riga stock exchange already on September 28. The goal of JSC “DelfinGroup” immediately after the IPO is to start listing on the Nasdaq Riga Baltic Main List, which currently lists 32 Baltic companies, including only three from Latvia, “emphasized Didzis Ādmīdiņš, Chairman of the Board of JSC” DelfinGroup “.
As a result of the IPO, JSC “DelfinGroup” plans to attract new capital in the amount of up to 12.76 million euros. All the attracted capital will be used for the further growth of the company, as well as to reduce the company’s financing costs, explains the company. In the IPO process, none of the current shareholders of JSC “DelfinGroup” will sell their shares.
The financial consultants of JSC “DelfinGroup” IPO process are LHV banka and the law firm “Eversheds Sutherland Bitāns”.
The long-term financial goals of JSC “DelfinGroup” envisage that by the end of 2024 the company will double the consolidated net loan portfolio and it will exceed 70 million euros. By gradually increasing profitability, the company plans to achieve EBITDA of 17.6 million euros in 2024, as well as a profit before taxes of 12.9 million euros.
The company’s share capital currently consists of 40 million shares with a nominal value of 0.1 euros per share.
The company will inform more about the IPO process of JSC “DelfinGroup” in a virtual conference on September 28 at 11 am.
DelfinGroup’s turnover in the first three months of 2021 reached six million euros, net profit was 0.8 million euros, and the loan portfolio – 32 million euros. EBITDA increased by 21% to 2.5 million euros, while pre-tax profit reached 1.1 million euros, an increase of 6% compared to the first quarter of 2020.
JSC “DefinGroup” announced in March of this year plans to make an initial public offering (IPO) of shares in the second half of 2021 “Nasdaq Riga stock Exchange”.
JSC “DelfinGroup” is a licensed financial sector group, founded in 2009 and representing the brands “Banknote”, “VIZIA” and “Rīgas pilsētas lombards”. The company has more than 250 employees in 93 branches in 38 Latvian cities. DelfinGroup is a member of the Latvian Chamber of Commerce and Industry and the Latvian Association of Alternative Financial Services. The company’s main services are the sale of second-hand goods in branches and on the Internet, a pawnshop loan, a consumer loan, as well as a senior loan, the terms of which are specially adapted for seniors. DelfinGroup bonds are listed on the Nasdaq Riga First North bond list. In 2020, the company’s turnover was 23.7 million euros, the loan portfolio reached 34.7 million euros, EBITDA increased to 9.3 million euros and profit before taxes reached 4.6 million euros. DelfinGroup’s estimated taxes in 2020 were 3.42 million euros.
We have already writtenthat changes in the ownership structure of the shareholder of the Latvian financial company AS “DelfinGroup” SIA “L24 finance” took place at the end of April this year, which are currently registered in the Register of Enterprises. The Kesenfeld family company SIA ALI Investments has indirectly become the owner of SIA L24 finance, according to the company’s announcement on the Nasdaq Riga stock exchange.
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