Nasdaq Welcomes Arsenal Industrial to the Baltic First North Market
Riga/Tallinn/Vilnius, Nasdaq Baltic Market, May 30, 2024 – Nasdaq (NDAQ) announces that bonds issued by Latvian company Arsenal Industrial were admitted to trading on the Nasdaq Baltic First North Bond List by Nasdaq Riga as of today.
Arsenal Industrial, one of the leading Baltic construction equipment rental and trading companies, has issued secured bonds in the amount of EUR 4.5 million as part of a private offering. The proceeds from the bond issue will be used to refinance obligations of the company in Poland.
The bonds have a nominal value of EUR 1,000 each, with an annual coupon rate of 12% and interest paid monthly. The maturity date of the bonds is May 31, 2026.
"Congratulations to Arsenal Industrial on its debut on the Nasdaq Baltic First North Market. We are delighted with the ambition and courage of Latvian entrepreneurs to become public. Arsenal Industrial is another company representing Latvian construction equipment rental industry now listed on the Baltic exchanges. It is an encouraging signal for other growing businesses as well," said Liene Dubava, CEO of the Nasdaq Riga Stock Exchange.
“A successful listing of the Arsenal Industrial bonds on the stock exchange not only lays a solid foundation for the company's long-term development, but also marks the beginning of a new phase of strong growth for the company. The listing will provide the company with more development opportunities, strengthen its competitiveness, and enable it to deliver higher and sustainable returns to shareholders and investors,” stated the Group's CEO Gints Vanags.
Arsenal Industrial is a construction equipment rental and trading company registered in 2014. The Group currently operates in all three Baltic States. The Group aims to provide high-quality products and services and to be an efficient enterprise that listens to its customers' needs and delivers to them.
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:
Sanita Gailane
sanita.gailane@nasdaq.com
+371 25 277 733
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