Latvia’s First State-Owned Company IPO: LAU Infra Grupa Joins Nasdaq Baltic Main List

03.07.2026 RIG, TLN, VLN

Riga / Vilnius / Tallinn, Nasdaq Baltic Market, July 3, 2026 – Nasdaq (NDAQ) announces that the shares of LAU Infra Grupa (short name: IGR1R), one of Latvia’s leading road construction and infrastructure maintenance companies, have been listed on the Nasdaq Baltic Main List by Nasdaq Riga as of today.

The listing follows the company’s initial public offering (IPO), in which investors acquired 3,944,893 shares for a total value of EUR 6.19 million. A total of 1,981 investors participated in the offering, including 1,966 retail investors and 15 institutional investors. More than half, or 53%, of the allocated shares were granted to institutional investors, while 47% were allocated to retail investors.

One of the most significant outcomes of the IPO was the participation of the leading Baltic pension funds. The offering attracted pension funds managed by INVL, SEB, Swedbank, and Luminor.

“The listing of state-owned and municipal companies has been discussed in Latvia for years, making this first IPO an important milestone. The strong participation of Baltic pension funds and institutional investors demonstrates confidence in both LAU Infra Grupa and Latvia’s capital market. It also highlights the role the capital market can play in financing strategically important infrastructure and defence projects that support the country’s long-term development,” said Liene Dubava, CEO of Nasdaq Riga.

 “Today marks an important milestone in the history of Latvia’s capital market and the development of state-owned enterprises. The listing of the first state-owned company on the stock exchange clearly demonstrates that state-owned enterprises can be modern, efficient and competitive. It is particularly gratifying that this milestone has been achieved by a company from the transport sector – LAU Infra Grupa AS. This is an important step forward for both the transport sector and Latvia as a whole,” said Rihards Kozlovskis, Minister for Transport of the Republic of Latvia.

“Our first day of trading on Nasdaq Riga marks an important step in LAU Infra Grupa’s development. We are grateful for the trust and support shown by investors — from Latvian pension fund managers, who recognized our long-term growth potential, to retail investors, many of whom chose LAU Infra Grupa shares for their first-ever investment in the capital market. We see this trust not only as a valuable endorsement, but also as a responsibility to continue operating with transparency, delivering sustainable growth and creating long-term value for all our shareholders,” said Vilnis Vitkovskis, Chairman of the Management Board of LAU Infra Grupa.

About LAU Infra Grupa

LAU Infra Grupa is one of Latvia’s largest and most strategically important infrastructure construction and road maintenance companies. The company plays a key role in ensuring the continuous operation of the national and municipal road network, implementing defence infrastructure projects, and producing construction materials.