Tallinn/Riga/Vilnius, Nasdaq Baltic Market, April 21, 2022 – Nasdaq (Nasdaq: NDAQ) announces that shares of Robus Group, an Estonian company providing training equipment and video training platform, have been admitted to trading on the Nasdaq Baltic First North Market by Nasdaq Tallinn as of today, April 21.
The listing of the Robus Group shares follows the initial public offering to Estonian investors. Based on demand for the shares of EUR 0.77 million, the offering was 33% oversubscribed. A total of 1483 investors subscribed to the shares.
“It’s great to see that an increasing number of new generation companies are using the First North market to raise capital for growth and take their visibility to the next level,” said Kaarel Ots, CEO of Nasdaq Tallinn.
Mikk-Alvar Olle, co-founder and CEO of Robus, said that they thoroughly considered various options for raising capital for Robus and chose First North market due to the specificity and transparency of the regulations. “As Robus is aimed at private customers, it was also important for us to offer the investment opportunity to our own satisfied customers, which the First North market provides,” said Olle.
“Robus’ IPO took place in a very difficult geopolitical and economic environment, defined by war, rising prices and much greater investor caution. Nevertheless, the oversubscription is a great recognition to us both in terms of what we have done so far and also to our development plans,” said Olle.
The law firm Ellex Raidla advised the company in the public offering and listing process and serves as the certified adviser for Robus on the First North market.
Robus Group is a company founded and operating in Estonia, whose main field of activity is the development of a web-based innovative and interactive training platform and the sale and product development of smart sports equipment. Read more: robusathletics.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 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
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