The public offering of the largest shareholders of the Latvian fintech company DelfinGroup has attracted strong interest from investors across the Baltic states with more than 1000 investors participating and total demand of over 9 million euros.
During the offer period, two shareholders of DelfinGroup - companies ALPPES Capital and Curiosity Capital - offered to sell up to 8,985,000 DelfinGroup shares, which represents 19.8% of the total DelfinGroup share capital. In total 1,046 investors from the Baltic states subscribed for 8,293,780 shares and gross proceeds of 9,040,220 euros, which represents 92% of the offer volume.
The highest demand came from Latvian investors. In addition to broad based retail interest, several family offices and large investors from Baltic states also participated in the share offer.
All subscription orders will be fulfilled in full. Following the allocation, the settlement of the shares to investors' accounts will be completed on June 6, 2024.
After this transaction, the number of freely traded shares of DelfinGroup will increase from 29.1% to 47.4% which will be one of the highest in the Nasdaq Baltic Stock Exchange and will further increase the liquidity of DelfinGroup shares.
Didzis Admidinš, Chairman of the Management Board of DelfinGroup, said: " As a result of the transaction not only the number of freely traded shares is increasing, but also the number of shareholders. Investors have voted with their money for DelfinGroup's values and mission - to promote financial inclusion and sustainable consumption. ?I highly value the work done by the shareholders in organizing this offer during relatively challenging times and attracting such an amount of capital from the capital markets, including from retail investors."
Aigars Kesenfelds, one of the selling shareholders, commented: "The results of this share offering demonstrates strong investor interest in growing Baltic companies with high dividend yield. As a result of this offering, the total DelfinGroup shareholder base will increase, leading to higher liquidity of shares in the stock exchange which was one of the strategic objectives of this transaction. As one of the largest long term shareholders of DelfinGroup, I am honoured to invite the new shareholders to join AS DelfinGroup growth story."
Mihkel Torim, Head of Investment Banking at LHV Pank and lead manager of the share offering, stated: "Regardless of the exceptionally high amount of competing public bond offerings, DelfinGroup shares attracted substantial interest from various types of investors across the region. This is also the first public offering of shares on the Baltic exchange in 2024 to date and reaffirms that secondary public offerings on Baltic market is a practical way of placing large stakes of shares where all shareholders gain from increased liquidity."
Liene Dubava, CEO of Nasdaq Riga: "Investors have shown a strong interest in DelfinGroup share offer, with more than 1000 subscribers participating in the share offering. This is a great recognition and a sign that investors have confidence in the companies listed on the stock exchange. It also demonstrates the stock exchange as an open and safe place where every investor has access to a transparent trading venue and every company has an opportunity to grow its business."
About DelfinGroup
AS DelfinGroup is a licenced fintech company established in 2009 and operates under the brand names Banknote and VIZIA. The company has been profitable every year since 2010. DelfinGroup continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), and the sale of pre-owned goods online and at more than 90 branches across Latvia and Lithuania. Since 2014, DelfinGroup has been known on the Nasdaq Riga Stock Exchange as a bond issuer and, since 2021, as a listed company on the Baltic Main List. The company regularly pays dividends to its shareholders. The sustainability of DelfinGroup is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy.
For further information, please contact:
Aldis Umblejs,
DelfinGroup Chief Financial Officer
Phone: +371 26189988
E-mail: IR@delfingroup.lv
