The shareholders also took a number of other decisions related to the IPO process and authorized the Board to take all necessary steps to initiate it, to admit the company’s shares to trading on a regulated market (Nasdaq Baltic main list), to amend the company’s Articles of Association in the Companies Register, to sign agreements with Nasdaq Riga and Nasdaq CSD SE and to sign an agreement on share price stabilization, DelfinGroup said in a statement.
As already announced, DelfinGroup expects to raise $ 15 million through the IPO. which they plan to use for further business development and reduction of financing costs.
The authorized capital of the company is now divided into 40 million. shares with a par value of EUR 0.10 each.
In addition, the company plans to release a new one up to 10 million this year. The issue of debt securities issued in 2016 is due to be redeemed at the end of this year.
This summer, DelfinGroup announced the company’s long-term financial goals for 2024. The company plans to double its consolidated net loan portfolio to more than $ 70 million by the end of 2024. euros. With a gradual increase in profitability, it is expected to reach 17.6 million. EUR EBITDA and EUR 12.9 million profit before tax.
DelfinGroup is a licensed financial services company established in 2009 and represents the Banknote, VIZIA and Rigas pilsetas lombards brands. The company has 277 employees and 93 branches in 38 Latvian cities. Its main services are retail sales of its products through branches and online, loans to pawnshops, consumer loans and special services for people of retirement age.