Nasdaq Welcomes Longo Group to Baltic Bond List

09.12.2024 RIG, TLN, VLN

Riga/Tallinn/Vilnius, Nasdaq Baltic Market, December 9, 2024 – Nasdaq (NDAQ) announces that the bonds of Longo Group were listed on the Nasdaq Baltic Bond List by Nasdaq Riga as of today. 

The largest used car retailer in the Baltic region, Longo Group, has successfully raised EUR 10 million in a public bond offering. Total demand for the bonds was EUR 12.1 million from more than 700 retail and institutional investors, exceeding the initial offering target by 21%.

In terms of investment volume, 85% of the total demand was generated by Latvian, 9% by Estonian, and 6% by Lithuanian investors.

“It has been two years since Longo Group debuted on Nasdaq Baltic First North market, and now they are joining the regulated bond market. These repeated successes show that it’s not just luck — it’s a sign of reaching a certain level of maturity, and earning investors’ trust. I’m certain that their example prompts other companies to consider utilizing the benefits of the public securities market,” says Liene Dubava, CEO of Nasdaq Riga.

“We are pleased with the results of our first public bond offering and deeply value the trust of our investors. We remain committed to driving positive change in the used car market sector. The proceeds from this public bond offering will enable us to achieve our plans with renewed strength,” says Edgars Cērps, Chairman of the Management Board and CEO of AS Longo Group.

AS Longo Group is the largest used car retailer in the Baltic region, providing the most extensive selection of vehicles. Established in 2018, Longo employs over 140 professionals and reached a  revenue of 47.8 million euros in 2023. The headquarters are in Latvia, from which AS Longo Group manages 9 subsidiaries across Lithuania, Estonia, Poland, the Netherlands, Belgium, and Germany. Since the inception, Longo mission has been to establish a new standard of quality within the used car retail sector in the Baltic region, ensuring a transparent, reliable, and outstanding car-buying experience for customers, both online and in-person.