Nasdaq Welcomes Modera to Baltic First North Market

15.10.2021 RIG, TLN, VLN

Tallinn/Riga/Vilnius, Nasdaq Baltic Market, October 15, 2021 – Nasdaq (NDAQ) announces that the shares of Modera, an Estonian company developing car sales software, have been admitted to trading on Nasdaq Baltic First North Market by Nasdaq Tallinn as of today, October 15.

The admittance to trading of Modera shares follows the initial public offering of the company. Modera initially offered 250 000 shares at EUR 6.6 per share, but as the demand for the shares exceeded the supply, the company increased the number of shares offered to 301 000. 1568 investors participated in the offering.

“I’m really glad to see a new and ambitious technology company being listed on our First North market. Modera now has all the advantages of being a public company and more than 1500 investors behind them to leverage the execution of their growth plans,” said Kaarel Ots, CEO of Nasdaq Tallinn.

Raido Toonekurg, CEO of Modera, said they chose First North because it sets a certain quality standard for Modera as a company and facilitates cooperation with international customers. “It also gives an estimate of the value of the company, which is formed in an open and transparent marketplace.”

Toonekurg added that they were very satisfied with the demand of investors because the interest in their shares was higher than the supply. “Especially in a situation where our offering coincided with one of the largest IPO campaigns of the Estonian market from Enefit Green.”

Law firm Ellex Raidla serves as the certified adviser for Modera on First North market.

Modera is a company founded and operating in Estonia, whose main field of activity is the development and sale of innovative and integrated customer management software for car sales. Read more: http://www.modera.com

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 www.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