Nasdaq Welcomes Agathum to the Nasdaq Baltic First North Market

30.07.2024 RIG, TLN, VLN

Vilnius/Riga/Tallinn, Nasdaq Baltic Market, July 30, 2024 – Nasdaq (NDAQ) announces that bonds issued by Agathum have been admitted to trading on the Nasdaq Baltic First North market by Nasdaq Vilnius as of today, July 30.

The property management and investment company Agathum, based in Kaunas, has successfully raised EUR 2 million through a public bond offering available to investors in Lithuania and Latvia. Each bond has a nominal value of EUR 100 and offers a fixed annual coupon of 11% with quarterly payments.This bonds mature on June 26, 2026.

The bond issued by Agathum attracted 236 investors who subscribed to EUR 2,667 million worth of bonds. The offering was 34% oversubscribed with majority of investors (85%) were from Lithuania, while 15% were from Latvia.

Agathum will allocate raised funds to refinance the EUR 3 million worth of bonds issued in 2021.  

Šiaulių Bankas was the organizer of the public bond issue, while the law firm TGS Baltic acted as legal advisor and is also the certified adviser for the company on the First North market.

“We are pleased to welcome Agathum on the Nasdaq Baltic First North Market! Agathum’s bond issue was successful and demonstrated investor trust in their vision and strategic direction. We are happy to see that the public market is attracting more Lithuanian real estate companies. We wish Agathum all the best in their future growth journey.” – said Gediminas Varnas, President of Nasdaq Vilnius.

Algirdas Pukis, Head of AB Agathum, sees the move to Nasdaq as very successful for both the company and Lithuanian investors: “We are happy to enter the Nasdaq Baltic First North market. This is our debut in the public markets and another step forward to a new phase. We want to create our own story here and give the chance for individual investors to join it as well and, at the same time, contribute to the public appeal of the stock market in Lithuania.”

Agathum AB is a steadily growing property management and investment company. It started by buying, renovating, and renting residential apartments in Vilnius and Kaunas. As its capital base grew, it successfully transitioned into commercial real estate operations, and AB Agathum was formed in 2012. Since then, it has been opportunistically purchasing strategically well-located properties with long-term tenants already in place or renovating and leasing the space out after acquiring the real estate. Agathum aims to manage and help create productive industrial environments and inspiring urban spaces for everyone to thrive.

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 .

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Media contacts:

Birutė Jocaitė-Šliurpienė
birute.jocaitesliurpiene@nasdaq.com
+370 61546123