Nasdaq Welcomes ELMO Rent to Baltic First North Market

01.07.2021 RIG, TLN, VLN

Tallinn/Riga/Vilnius, Nasdaq Baltic Market, July 1, 2021 – Nasdaq (NDAQ) announces that the shares of ELMO Rent, an Estonian company providing green vehicle sharing services, have been admitted to trading on Nasdaq Baltic First North Market by Nasdaq Tallinn as of today, July 1.

The admittance to trading of ELMO Rent shares follows the initial public offering of the company. The total demand for the shares was EUR 1.92 million and the offering was 3.2 times oversubscribed. 1313 investors participated in the offering.

„Becoming a public company requires ambition and courage. I’m really happy to see more and more new generation Estonian entrepreneurs who have this courage to take on the challenge to bring their company into public spotlight,“ said Kaarel Ots, CEO of Nasdaq Tallinn. „ELMO Rent is a great example of such a company.“

“The feedback we received from investors during the IPO preparation and subscription period was perfect. That feedback alone doubled our strenght and accelerated our initial action plan,” said Enn Laansoo Jr, founder of ELMO Rent. “In addition, due to the great interest investors showed in the offering, we have gained a lot of worthy contacts.”

Law firm Sorainen serves as the certified adviser for ELMO Rent on First North market.

ELMO Rent is a company established in Estonia whose main business activity is to offer environmentally friendly car rental service. ELMO Rent also develops, sells, and scales environmentally friendly and innovative technologies related to car rental services, such as the IT operating system for managing the car park, car controller, and remote control vehicle.

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 (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:

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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.

Additional information:
Ott Raidla
Nasdaq Tallinn
Head of Marketing & Communications
+372 5552 4824

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