885 investors applied for the company’s shares as part of the public offerings of shares held by the main shareholders of AS DelfinGroup.
The two largest shareholders of the company – SIA L24 Finance and SIA EC finance – sold 741,528 shares for a value of 1,067,800 euros. As a result, it will be possible to achieve the main objectives of the public auction of shares: to increase the liquidity of the market and to guarantee a public listing of shares on the stock exchange worth at least 10 million euros (depending on a separate decision of the Nasdaq Riga), which is one of the requirements for the official listing of the Nasdaq Riga Baltic stock exchange.
As in last year’s IPO, this time too, the increased interest in public offering shares was observed by Estonian investors. 74% of the participants in the auction were from Estonia, 23% from Latvia and 3% from Lithuania. After settlement, more than 15% of DelfinGroup shares will be in circulation. As part of the public offer, the price of a share was set at € 1.44.
Didzis Ādmīdins, Chairman of the Board of DelfinGroup: “Following DelfinGroup’s IPO in October 2021, nearly 6,000 investors became shareholders of the company. Nearly 900 investors bought shares in public offerings held by the two largest shareholders of the company, and this number shows that investors trust DelfinGroup. This is the best valuation we can get! Thanks to these transactions, most of the existing shareholders had the opportunity to replenish their positions, and new ones – to join from the circle of shareholders of the company. It should be noted that, following these public offers, the liquidity of DelfinGroup shares on the stock exchange should improve, as the number of shares in circulation will increase. This is a long-term advantage for all shareholders “.
“I am happy that the main objectives of the public offering have been achieved with the auction of the shares. The number of shareholders has increased, the liquidity of the market has improved and the amount of 10 million euros set by the stock exchange has been reached. the public circulation of the shares. Despite the fact that more shares have been offered in the offers than were sold, the end result is good and all shareholders will benefit. I congratulate all new shareholders and existing investors who they increased their equity position on favorable terms “, emphasizes Agris Evertovskis, Chairman of the Board and founder of DelfinGroup.
Ivars Bergmanis, representative of LHV Pank, the public offering bank: “Despite the very difficult market conditions, investor activity has shown that there is demand for DelfinGroup shares and we assume that the regular payment of dividends has been a important factor when considering this investment. Such a process in the Baltics (prospectus by investors rather than a specific issuer) is a rare case which, in our view, has presented a transparent and effective way for larger shareholders than reduce their participation in society “.
DelfinGroup investors receive regular income from the company’s dividend policy, which is unique to the Baltic market: at least 50% of the company’s profit has been paid to shareholders in dividends every quarter, and the company plans to continue this practice. In addition, annual dividends are also paid. Among these, in 2022 DelfinGroup has already paid dividends five times for an amount of almost € 4.6 million, or € 0.1013 for each share of the company. In addition, another dividend payment is expected this year.
DelfinGroup has been profitable every year since 2010, while ensuring consistently high growth rates. The total turnover of the company in the first half of this year was 16,095 million euros, 34.8% more than in the corresponding period of 2021. The net profit of DelfinGroup, on the other hand, grew by 61.4 %, reaching 2,631 million euros. Also in the third quarter of this year, the company continued to show excellent results in all the main business segments. In the third quarter, new consumer loans were issued for an amount of 16.8 million euros, 54% more than in the corresponding period last year. The pawnbroking segment saw an increase of 51% in the third quarter, while the sales of used, little used and new goods increased by 45% in the third quarter.
