Nasdaq Welcomes Storent Holdings to the Nasdaq Baltic Bond List

27.06.2023 RIG, TLN, VLN

Tallinn/Riga/Vilnius, Nasdaq Baltic Market, June 27, 2023 – Nasdaq (NDAQ) announces that bonds issued by Storent Holdings were admitted to trading on the Nasdaq Baltic Bond List by Nasdaq Riga as of 26^th of June.

Storent Holdings raised EUR 10.5 million in the public bond offering from close to 1000 investors, the vast majority of them being private investors. The annual interest rate was determined through an auction and was set at 11%. The maturity date is December 21, 2025.

“We welcome Storent Holdings to the Baltic Bond List. It is remarkable that the company’s subsidiary, Storent Investments, has already been included in the Nasdaq’s regulated market, and now the parent company becomes a listed company as well. We are proud to see that 10 ambitious Latvian companies have raised capital at the Nasdaq Riga stock exchange during this year, and 3 of these companies have done it repeatedly,” says Daiga Auziņa-Melalksne, CEO of Nasdaq Riga.

“We are pleased to have managed to raise more than 10 million euros, which shows the confidence of private investors in the company and in our vision for the future. Raised funds will allow Storent Holdings to develop and achieve even better results, as well as evolve new business directions and increase competitiveness in this volatile market situation. We will continue to be industry leader in digitalization and innovation of rental business, while focusing on providing the best possible service to our customers and partners in all countries Storent Holdings operates,” states Andris Pavlovs, the founder and owner of Storent Holdings.

Storent Holdings is Latvia’s leading construction equipment rental company and one of the largest suppliers in the Baltic states. Storent was established in 2008 with the goal of developing an efficient construction equipment rental company. It is the largest construction equipment company in Latvia and has one of the largest market shares in Estonia and Lithuania, with an additional market presence in Finland and Sweden. Storent currently operates a total of 26 rental depots.