Riga/Tallinn/Vilnius, Nasdaq Baltic Market, March 2, 2020 – Nasdaq (NDAQ) announces that bonds issued by Sakret Holdings AS (short name: SAKR) have been admitted to trading on the Nasdaq Baltic First North bond market by Nasdaq Riga as of March 2, 2020.
Sakret Holdings is a Latvia-based group operating under the global Sakret franchise. It is among the largest producers of ready-mix construction materials in the Baltics, with a market share of more than 25% in all three countries. The company operates four production plants: two in Riga, Latvia, one in Kedainai, Lithuania, and one in Paide, Estonia. Sakret’s plant in Lithuania is the largest production facility for dry construction mixes in the Baltics.
The size of Sakret Holdings bond issue is EUR 3.79 million. The annual coupon rate is 9 % with the interest payments once per quarter. The nominal value of one bond is EUR 1000. Maturity date of the bond issue is August 30, 2024.
“Seventeen years ago, when we founded our company and introduced dry building mixtures, an innovative product for that time, on the Latvian market, we believed in this business idea. This belief allowed us to be bold and move forward step by step and establish successful operations throughout the Baltics, with a production site in each country. We are confident that the issue of bonds will facilitate Sakret’s long-term development in the Baltic region and increase exports,” emphasized Andris Vanags, the Chairman of the Council of Sakret Holdings.
“We welcome Sakret Holdings to Nasdaq,” says Daiga Auziņa-Melalksne, the CEO of Nasdaq Riga. “It is a great pleasure to see that Baltic First North market makes it easier for vibrant small and medium size companies like Sakret to continue their growth story and further scale their operations,” Auziņa-Melalksne adds.
BlueOrange Bank AS serves as the Certified Adviser for Sakret Holdings on the First North market.
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.
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