Nasdaq Welcomes Mapon to the Nasdaq Baltic First North Market

18.02.2025 RIG, TLN, VLN

Riga/Tallinn/Vilnius, Nasdaq Baltic Market, February 18, 2025 – Nasdaq (NDAQ) announces that bonds issued by Latvian company Mapon were listed on the Nasdaq Baltic First North Market by Nasdaq Riga as of today.

Mapon, the largest fleet management solutions provider in the Baltics and one of the industry leaders in Northern Europe, has successfully raised EUR 3 million through a private bond offering. The funding will be used to finance company acquisitions and further expand Mapon’s operations in Europe.

Each bond holds a nominal value of EUR 1,000 and provides an annual coupon rate of 5% + 3 months EURIBOR, payable quarterly. The bonds mature on March 8, 2027.

The offering was oversubscribed by almost three times.

“Another Latvian company has joined the local exchange, and we congratulate Mapon on its successful debut on the First North market. Mapon is one of several companies under Draugiem Group, which was the first company that was listed on Riga stock exchange. We look forward to seeing other group`s companies on the exchange, including the first unicorn established in Latvia. Our best wishes to the experienced and ambitious Mapon team,” said Liene Dubava, CEO of Nasdaq Riga.

“Since issuing bonds in early 2024, we have strengthened our leadership positions in the Baltics by acquiring companies in Europe and partnering with such major logistics industry players as KRONE and Schmitz Cargobull. Draugiem Group has had a good experience attracting global investors. It has created Printful, attracted investments to grow Vendon, which is being bought by the global public company Azkoyen, and invested in the cosmetics company Prime Prometics and developmental toys brand IGLU, both of which have seen rapid growth since then. The issuance and offering of bonds are the next well-considered steps for our team,” says Dāvis Siksnāns, CEO at Mapon.

Mapon, a Draugiem Group company, is one of Northern Europe’s leading fleet management and asset-tracking solution providers. The company has over 30,000 clients and a broad network of partners across Europe, the US, Latin America, Australia, and Africa. Mapon employs more than 200 professionals in offices in Latvia, Lithuania, Estonia, Finland, Sweden, Denmark, and Spain. The company’s turnover in 2024 was 19.7 million EUR. In September 2024, when Dāvis Siksnāns was appointed chief executive at Mapon, the company owners highlighted his previous experience attracting significant global investments at Printful, where Siksnāns worked as CEO for a decade.