Nasdaq Welcomes AS Grenardi Group to the Nasdaq Baltic Bond List

08.05.2024 RIG, TLN, VLN

Tallinn/Riga/Vilnius, Nasdaq Baltic Market, May 8, 2024 – Nasdaq (NDAQ) announces that bonds issued by Grenardi Group were admitted to trading on the Nasdaq Baltic Bond List by Nasdaq Riga as of 8th of May.

The leading and fastest growing jewellery retail chain in the Baltics, AS Grenardi Group (GRENARDI and GIVEN stores), has successfully raised EUR 12 million in a public bond offering. The nominal value of one bond is 100 EUR with a fixed annual coupon rate of 10%. The bonds mature on April 16, 2027.

Total demand for the bonds from more than 1 300 investors reached EUR 21 million. Latvian investors contributed 85% of the total demand, Estonian investors for 12% and Lithuanian investors for 3%.

“We welcome Grenardi Group b the Nasdaq Baltic Bond List. It has been two years since GIVEN debuted on Nasdaq First North market, and now – this is the third time the company is issuing bonds and getting all the benefits of a regulated market. Development goals do not stop for the ambitious companies!  May the capital raised on the stock exchange help Grenardi Group to grow and strengthen its position in the Baltics,” says Liene Dubava, Chair of the Management Board of Nasdaq Riga. 

“We are very pleased with the results of the bond public offering. We thank each of the more than 1,300 investors for their trust in AS Grenardi Group. With the listing of the Group’s bonds on the Nasdaq Riga regulated market Baltic Bond List, we are one step closer to achieving our ambitious goals with increased intensity,” says Ģirts Rudzītis, Chairman of the Management Board and CEO of AS Grenardi Group.

AS Grenardi Group is the leading and fastest-growing jewellery retail network in the Baltics. The Group comprises a network of brand stores, including GIVEN, which offers modern jewellery at accessible prices, and GRENARDI, which offers exclusive jewellery from recognised brands, as well as their own private label collections. As of the end of 2023, AS Grenardi Group operated 82 stores in the Baltic States, with 75 under the GIVEN brand and 7 under the GRENARDI brand.