Tallinn/Riga/Vilnius, Nasdaq Baltic Market, March 9, 2023 – Nasdaq (Nasdaq: NDAQ) announces that bonds issued by SIA L.J.Linen have been admitted to trading on the Nasdaq Baltic First North market by Nasdaq Riga as of today.
The size of LINEN (SIA L.J.Linen) bond issue is EUR 2 million. The nominal value of bonds is 1,000 EUR with floating annual coupon rate of 10% + 3M EURIBOR with quarterly payments. The bonds mature on December 16, 2024. The listing of LINEN bonds follows its private offer to Estonian, Latvian and Lithuanian investors.
CEO of Nasdaq Riga Daiga Auziņa-Melalksne: “We are delighted to welcome another modern and ambitious Latvian company on the Nasdaq Baltic First North market. We`d like to praise LINEN on their debut on the capital markets and wish a success in achieving company`s growth goals and strengthening business position on a global scale.”
Jānis Kuļikovskis, the founder and owner of the company LINEN: ”We are delighted about the operating results of 2022 that again showed a strong growth and additional funding will help us to sustain the growth in the future. Our decisions to enter developing markets and operate with products that are a part of circular economy proved to be the right strategy. Given current market situation we are certain that demand for our products can only rise and they are becoming more and more popular.”
LINEN’s main activity is the global trade in agricultural products – ingredients for animal feeds, pet food, biofuels, cosmetics, and fertilizers. In the field of trade in raw materials of animal origin, LINEN is one of the leading companies in the European Union and consistently ranks among the five largest companies in the European Union that provide exports of this type of raw materials in the EU. Last year the turnover of SIA L.J.Linen was EUR 43 million, which is 55% more than a year earlier, whereas the turnover of the entire LINEN Group, which includes 14 companies worldwide, amounted to EUR 63 million. This year, the Group plans to almost double it, reaching a turnover of EUR 100 million. In the next few years, LINEN plans to strengthen and expand its position in existing markets in Europe, Asia and Africa, as well as to explore new markets, for example, by expanding operations in South America, while at the same time expanding its product range with plant-based raw materials.
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.
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