Nasdaq Welcomes Hestio to the Baltic First North Market

Riga/Tallinn/Vilnius, Nasdaq Baltic Market, December 19, 2023 - Nasdaq (Nasdaq:
NDAQ) announces that bonds issued by Latvian company Hestio were admitted to
trading on the Nasdaq Baltic First North Bond List by Nasdaq Riga as of today. 

Hestio, the leading provider of workspace solutions in Latvia, has issued
secured and guaranteed bonds in the amount of EUR 990,000 as part of a private
offering. The maturity date of the bonds is September 1, 2027. Raised funds
will be used to increase Hestio working capital and expand operations in the
existing business segments in the Latvian and European Union markets. 

"This year we've seen a notable increase in bond offerings by Latvian
companies, underscoring the ambition of local companies to develop. This year
is also special for Hestio - the company has successfully debuted on the Nasdaq
Baltic First North market. We are delighted for another participant in the
capital market and every company that continues to move towards its goal," said
Liene Dubava, CEO of the Nasdaq Riga stock exchange. 

"By admitting to trading our earlier issued bonds, we have reached a notable
milestone in our development and level of corporate transparency. Hestio is the
market leader in the Latvian workspace solutions sector. We are using the
proceeds to develop existing services further as well as introducing new
services via potential acquisitions due to the fragmented nature of the
market", said Reinis Tutans, Member of the Board and Chief Financial Officer
(CFO) of Hestio. 

Hestio is a full-service workspace solution provider, serving the Latvian
market since its establishment in 2007. Distinguished as the market leader in
the office supplies and services sector, the company has earned the trust of
over 8 000 customers. 

Nasdaq First North Market is tailored 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. 

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 

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,Twitter @Nasdaq, or at Nasdaq.com. 


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