Vilnius/Riga/Tallinn, Nasdaq Baltic Market, August 5, 2019 – Nasdaq (NDAQ) announces that the shares of NEO Finance have been admitted to trading on Nasdaq Baltic First North by Nasdaq Vilnius as of today, August 5.
NEO Finance – a company which is known as a Lithuanian fintech startup that operates the country‘s P2P lending platform, Paskolu Klubas, and the Neopay payment initiation service – held a successful IPO from May 15 to June 4, 2019. It sold 192 907 shares, raising a total of EUR 605 728.
“Nasdaq is delighted to welcome NEO Finance to the Nasdaq Baltic First North market. This is the first P2P lending platform and payment initiation service provider to tap the Baltic capital market,” says Saulius Malinauskas, the President of Nasdaq Vilnius. “In order to fuel further expansion, growing companies are actively looking for opportunities to raise funds on capital markets and First North. We wish for NEO Finance long and successful capital market journey.”
A total of 291 retail and institutional investors purchased NEO Finance shares in the IPO. In terms of geography, 66% of the shares were bought by investors from Lithuania, 10% by investors from Estonia, 8% by investors from the Netherlands, and the rest by investors from other countries.
“I note with pride that NEO Finance to join the public securities market. We are confident this decision will enable us to reach even more investors from the Baltic and Nordic regions, both to invest in the company and to invest through the platform. We have created a highly secure investment environment and, emboldened by investors’ trust, we will work even more resolutely and actively to strengthen our positions in the Lithuanian consumer credit market and to become market leaders in the provision of payment initiation services, expanding that service internationally,” says Evaldas Remeikis, Chair of the Board at NEO Finance.
About NEO Finance
NEO Finance is the operator of Paskolu Klubas, a P2P lending platform where individuals lend to and borrow from other people. Currently the largest such platform in Lithuania, in May 2019 it issued more than EUR 1.6 million of consumer credits.
NEO Finance also provides a payment initiation service (PIS) under the brand name Neopay. It now administers all settlements for e-shops including Tiketa, Edrauda, Manogilė.lt, Vienasaskaita.lt, and others. The PIS is the company’s fastest-growing service at present.
About First North
First North is a multilateral trading facility (MTF) tailored to support smaller, growing companies that want to raise capital and get the visibility and credibility of being a public company. Respectively, for investors, First North offers an opportunity to invest in companies that are in relatively early stages of their growth. First North is an alternative market and is often seen as a first step towards trading on the regulated market.
Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 100 marketplaces in 50 countries. Nasdaq is home to over 4,000 total listings with a market value of approximately $12 trillion. To learn more, visit: business.nasdaq.com.
Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius securities markets as well as Nasdaq CSD. To learn more, visit: nasdaqbaltic.com.
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The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These factors include, but are not limited to factors detailed in Nasdaq’s annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
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