Riga/Tallinn/Vilnius, Nasdaq Baltic Market, November 10, 2021 – Nasdaq (NDAQ) announces that bonds issued by CrossChem SIA, a Latvian producer and distributor of sustainable chemical products and special equipment that helps reduce environmental impact, have been admitted to trading on the Nasdaq Baltic First North Market by Nasdaq Riga as of today, November 10.
CrossChem SIA was established in 2007 with the goal contributing to Europe’s roadmap for sustainability and care for the environment by providing products relevant to those ambitions. The company is the only audited and certified manufacturer of AdBlue® (a liquid used to reduce emissions of nitrogen oxides (NOx) from diesel engines) in the Baltics since 2009.
The size of the bond issue is EUR 3 million, and this is company’s first issue under the CrossChem’s bond issue programme of EUR 10 million. The bonds have a nominal value of EUR 1,000 each and an annual interest rate of 6.75% with coupon paid quarterly. They mature on November 4, 2024. Proceeds of the issue will be used to support the company’s development plan for 2021-2025 with four main directions: expanding the network of AdBlue® filling stations in the Baltics; developing and increasing marine supply in the Baltic region; developing new products and broadening the product portfolio; and increasing raw material supply.
“We are delighted that CrossChem has chosen to list its first bond issue on the Nasdaq Baltic First North market and welcome the company to Nasdaq Riga as a new issuer,” said Daiga Auziņa-Melalksne, the CEO of Nasdaq Riga and Head of the Nasdaq Baltic Market. “It is a great pleasure to see how First North market enables companies like CrossChem to accelerate their growth and get spotlighted in the public markets.”
“We are very proud of the work the Latvian CrossChem team has done over the past decade, which I’m sure is just the start,” noted Ričards Andersons, the Founder and Chairman of the Board of CrossChem.
LHV Bank serves as the Certified Adviser for CrossChem on the Nasdaq Baltic First North market. First North is a multilateral trading facility (MTF) tailored to support growing ambitious companies that want to raise capital and get the visibility and credibility of being a public company.
CrossChem SIA is a part of the international CrossChem Group. Its business model centers on three pillars: sustainable products and services; unique proprietary AdBlue® production system for being closer to clients, cutting costs, and increasing competitiveness; and unique client servicing solutions. The company’s main products and services include AdBlue®, AUS40®, liquid fertilizers, auto and industrial chemicals, and storage tanks and other equipment. CrossChem has diversified sales channels and more than 5,000 B2B customers. Its headquarters and plant with an integrated railway terminal are located in Latvia. Read more: https://crosschem.lv/about-us/?lang=en
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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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