Kalve Coffee will become a joint stock company

Special or the highest quality AS coffee roasting company Kalve Coffee (KALVE) announces the change of its legal form from a limited liability company (SIA) to a joint stock company (AS), the creation of a board, as well as an increase in the company’s share capital.

Therefore, the company continues to actively prepare for its planned initial public offering (IPO).

“Reorganization into a joint-stock company is one of the prerequisites we implemented to prepare for the IPO. The proposed share offer will allow us to attract additional financial resources to ensure the growth of the company both in Latvia and beyond its borders, offering sustainable, affordable and high-quality coffee. status for a growing circle of people,” says Gatis Zēmanis. , co-founder and chairman of the board of JSC Kalve Coffee.

Along with the change in legal form, the company’s share capital was also increased from 25 thousand euros to 100 thousand euros, and a company council was established, using part of the retained earnings of the previous years. Rudolfs Strēlis was appointed as the chairman of the board, the co-founder of the company Jānis Andersons and Justīne Lība Elferte will also work on the board. At the same time, Jānis Zēgners was appointed as board member, finance director.

Rudolfs Strēlis is an experienced professional who gained extensive experience in managing customer experience, innovation and financial attraction in organizations such as If Insurance, LMT, Ministry of Economy. Justine Elferte’s specialization is issues of organizational strategies, stakeholder management and interest representation. She has worked at Longenesis, the Financial Intelligence Service, Latvian Transatlantic Group and elsewhere. As a finance professional, Jānis Zēgner gained experience at Airbus, as well as in several start-ups.

Wanting to be even more accessible to all coffee lovers and allowing them to participate directly in shaping our growth, in June 2024 KALVE announced plans to offer a public share to implement the original in the second half of this year and raise at least one million euros.

In the first six months of 2024, KALVE has continued its current growth rate – turnover increased by 40%, and profit increased 2.6 times compared to the corresponding period last year.