Nasdaq Welcomes Eleving Group to Baltic First North Market

07.03.2022 RIG, TLN, VLN

Riga/ Tallinn/Vilnius, Nasdaq Baltic Market, March 7, 2022 – Nasdaq (Nasdaq: NDAQ) announces that bonds issued by Eleving Group S.A. have been admitted to trading on the Nasdaq Baltic First North Market by Nasdaq Riga as of today, March 7.

The size of the Eleving Group bond issue is EUR 25 million. The bonds have a nominal value of EUR 1000 each and a floating annual coupon rate of 12% + 6 month EURIBOR, with interest paid monthly. They mature on December 29, 2031. The bonds were offered to investors in the form of a private placement. The proceeds will be used to refinance existing shareholder loans and for further business growth.

“We congratulate Eleving Group on its successful bond listing on the Nasdaq Baltic First North Market and are pleased that the company is continuing to finance its growth through the capital market,” says Daiga Auziņa-Melalksne, the CEO of Nasdaq Riga and Head of Nasdaq Baltic Market.

“Eleving Group achieved record financial results last year, and this year we plan to continue steady growth while further developing our mobility and financing platform, introducing new products, and continuously investing in digitalization. We started 2022 by passing the milestone of 1 billion euros of loans issued since the start of operations, and we are proud to continue our success story with the admission of Eleving Group bonds to the Nasdaq Baltic First North Market. This means more opportunities for new investors as the group continues on to further growth,” says Modestas Sudnius, CEO of Eleving Group.

Signet Bank serves as the Certified Adviser for Eleving Group 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.

About Eleving Group
Eleving Group (formerly known as Mogo Finance) comprises a number of international and fast-growing financial technology companies with a global presence. The Group’s companies operate in the vehicle and consumer finance segments in three continents, providing financial inclusion and disruptively changing financial services industries in the countries of operation. To date, the Group’s companies have issued more than one billion euros in loans and run a net loan portfolio of over 240 million euros. Founded in 2012 as Mogo in Latvia and expanded across the Baltics within its first year in business, the Group continued expansion in the following years, servicing a total of 14 active markets and revolutionizing the way people purchase vehicles. With its headquarters in Latvia, the Group operates in the Baltics, Central, Eastern, and South-Eastern Europe, Caucasus, Central Asia, and Eastern Africa. For two consecutive years since 2020, the Group has been recognized on the Financial Times list of Europe’s 1000 fastest growing companies.

About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at

Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more:

Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These factors include, but are not limited to factors detailed in Nasdaq’s annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.

Media Relations Contact

Dace Bulte,
Nasdaq  Riga
+371 6721 2431

Tradable Assets


Market information


Market Regulation

Rules and Regulations

Get Started

For Companies
For Investors
For Brokers/Members
For First North Advisers


Nasdaq News
Issuer News

About Us

Nasdaq Baltic Market