Riga/Tallinn/Vilnius, Nasdaq Baltic Market, November 11, 2021 - Nasdaq (NDAQ)
announces that the shares of AS Virši-A (trading ticker: VIRSI), a Latvian
capital-based fuel and alternative energy trader, have been admitted to trading
on the Nasdaq Baltic First North Market by Nasdaq Riga as of today, November
11.
The admission to trading of AS Virši-A (Virši) shares follows an initial public
offering (IPO) by the company which ended on November 5 and set a Latvian
record for the intensity of investor activity.
Virši raised 7.8 million euros through the IPO, in which a total of 9,979
investors participated, including 15 institutional investors. Demand was nearly
twice the number of base offer available. Among the investors in the shares,
almost half, or 4,732, are from Latvia, while 5,128 are from Estonia and 97 are
from Lithuania. LHV Bank and the law firm Eversheds Sutherland Bitans advised
in the IPO process.
The Chairman of the Management Board of Virši Janis Viba, the Head of
Institutional Markets at LHV Bank Ivars Bergmanis, and the CEO of Nasdaq Riga
and the Head of Nasdaq Baltic Exchanges Daiga Auzina-Melalksne rang the
symbolic opening bell of the stock exchange on the morning of the Virši shares'
first day of trading.
"We welcome Virši to Nasdaq Riga and to the Baltic First North market," said
Daiga Auzina-Melalksne, the CEO of Nasdaq Riga and Head of the Nasdaq Baltic
Market. "The First North market is a growth platform for ambitious companies
like Virši and we are excited to see that so many investors want to be part of
their growth story. We wish them the success as their journey as a public
company begins."
"A successful start on the stock exchange is both the end of a long period of
preparation and the beginning of a new operational phase, now in the official
status of a public company. We are grateful to every investor for their
interest in the initial public offering of our shares. Almost 7,500 investors
or nearly 75% of all investors have bought a hundred or more shares and, thanks
to the trust shown, these investors can apply for the Virši shareholder benefit
programme today, receiving practical and daily benefits throughout the Virši
station network. The active participation of investors will allow us to further
accelerate the development of the company, as well as to improve the offer of
alternative fuels in the Latvian market," emphasized Janis Viba, the Chairman
of the Management Board of Virši.
"It is most heartening that retail investor activity in Latvia is clearly
beginning to blossom with the Virši transaction. This is a great example of a
company looking to grow together with its local comunity" said Ivars Bergmanis,
Head of Institutional Markets at LHV Bank, the IPO's global lead manager and
bookrunner.
LHV Bank now also serves as the certified adviser for Virši on the First North
market.
The Nasdaq First North market is designed to support smaller, growing companies
that want to raise capital and get the visibility and credibility of being a
public company. For investors, First North offers an opportunity to invest in
companies that are at an earlier stage of their growth.
About Virši
AS Virši-A is the largest and fastest growing Latvian fuel trader, with 26
years of experience in the Latvian fuel trade sector. Today, company operates a
network of more than 63 service stations, of which 61 are full-service, and
employs more than 627 people in all regions of Latvia. Read more:
www.virsi.lv/en
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital
markets and other industries. Our diverse offering of data, analytics, software
and services enables clients to optimize and execute their business vision with
confidence. To learn more about the company, technology solutions and career
opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.
Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq
Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more:
nasdaqbaltic.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made
under the Safe Harbor provisions of the Private Securities Litigation Reform
Act of 1995. These statements include, but are not limited to, statements about
Nasdaq and its products and offerings. We caution that these statements are not
guarantees of future performance. Actual results may differ materially from
those expressed or implied in the forward-looking statements. Forward-looking
statements involve a number of risks, uncertainties or other factors beyond
Nasdaq's control. These factors include, but are not limited to factors
detailed in Nasdaq's annual report on Form 10-K, and periodic reports filed
with the U.S. Securities and Exchange Commission. We undertake no obligation to
release any revisions to any forward-looking statements.
NASDAQ MEDIA CONTACT:
Dace Bulte
+371 67 212 431
dace.bulte@nasdaq.com
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