Nasdaq Welcomes Hotrema to the First North Market

22.09.2025 RIG, TLN, VLN

Vilnius/Riga/Tallinn, Nasdaq Baltic Market, September 19, 2025 – Nasdaq (NDAQ) announces that as of September 19, Nasdaq Vilnius Stock Exchange has listed the bonds issued by Hotrema on the Nasdaq Baltic First North market.

Through a public bond offering in Lithuania, the industrial insulation and scaffolding systems group Hotrema raised over EUR 5 million. Each bond has a nominal value of EUR 1,000, with an annual interest rate of 9%, paid quarterly. The bond term is 2 years and 10 months, with a maturity date of April 25, 2028.

The issuance attracted strong interest from both retail and institutional investors – demand exceeded supply. Initially, a smaller amount was planned, but due to active investor participation, the final amount surpassed EUR 5 million. In total, 423 investors acquired the bonds: 76% were retail investors from Lithuania, Latvia, and Estonia. The average investment was around EUR 11,800.

The bonds were distributed by Artea bank. The issuer’s certified advisor is the law firm Norkus and Partners COBALT, and the bondholders’ trustee is Audifina.

“Hotrema’s step into the First North market is a great example of how the Baltic capital market is becoming increasingly attractive to growing companies. We are pleased to support this milestone and believe that investor confidence will help Hotrema further strengthen its position in servicing energy, industrial, and infrastructure projects,” said Gediminas Varnas, President of Nasdaq Vilnius. 

“The successful bond issuance and entry into the First North market is an important growth milestone for Hotrema. We thank investors for their strong interest, which reflects trust in our vision and capabilities. This support gives us even more determination to expand internationally and continue growing Hotrema as a reliable partner for both clients and investors,” said Marius Lazdauskas, CEO and shareholder of Hotrema.

About Hotrema

Over 13 years of operation, Hotrema has become a trusted leader in industrial insulation and scaffolding projects in the Baltic States. The Group carries out 76% of its projects in the United Kingdom, Scandinavia, and other European countries outside the Baltics. Hotrema employs 565 people and operates companies in Lithuania, the United Kingdom, and Finland, with branches in France and Norway. A new Group company will soon be established in Switzerland.

About 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 X @Nasdaq, or at nasdaq.com. 

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