Nasdaq Welcomes Primostar Group to the Baltic First North Market

05.06.2025 RIG, TLN, VLN

Tallinn/Riga/Vilnius, Nasdaq Baltic Market, June 5, 2025 – Nasdaq (NDAQ) announces that shares of Primostar Group (ticker: PRIMO) have been admitted to trading on the Nasdaq Baltic First North Market as of today. Primostar Group is an Estonian company specializing in the construction of below-grade waterproofing concrete structures.

The listing of Primostar Group shares follows the initial public offering to Estonian, Latvian, and Lithuanian investors. The base amount of the offering was EUR 1 million. The demand for the shares was approximately EUR 367,000, and a total of 290 investors subscribed to the shares.

“Primostar Group is a company that does not lack courage. Their team set out with the goal of becoming a public company, and here they are, now being listed on the Nasdaq Baltic First North Market,” said Kaarel Ots, CEO of Nasdaq Tallinn. “I’m happy to welcome Primostar Group to the market and wish them all the best in realizing their growth plans.”

“We chose First North market because we see it as a natural step to support our international growth. We have expanded strongly into different countries in recent years, and we want to continue this momentum. First North gives us better access to new partners and investors, increases our transparency, credibility and strengthens our reputation in all target markets,” said Indrek Uusalu, CEO of Primostar Group.

“In addition, it will allow us to raise capital in a flexible and transparent manner in the future, without losing focus on our core business – high-quality and sustainable waterproofing,” commented Uusalu.

The law firm Ellex Raidla advised the company in the listing process and serves as the certified adviser for Primostar Group on the First North Market.

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 Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more: nasdaqbaltic.com

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Media Contacts:

Ott Raidla
Nasdaq Tallinn / Nasdaq Baltic Market
Marketing and Communications Manager
ott.raidla@nasdaq.com
+372 5552 4824