Nasdaq Riga
Press release

Nasdaq Welcomes Legal Balance Bond Issue to the Baltic First North Market

Vilnius/Riga/Tallinn, Nasdaq Baltic Market, January 26, 2023 – Nasdaq (Nasdaq: NDAQ) announces that bonds issued by the Lithuanian company UAB Legal Balance have been admitted to trading on the Nasdaq Baltic First North Market by Nasdaq Vilnius as of today, January 26. Legal Balance provides professional legal services related to debt recovery, debt purchasing in Lithuania and abroad, and the management of receivables.

The size of Legal Balance’s bond issue is EUR 2 million. The bonds have a maturity of 3 years with an annual interest rate of 8% and quarterly coupon payments. Each bond has a nominal value of EUR 1 000. They mature on November 10, 2025. The company will use the funds thus raised for expansion in existing markets and search for new ones. Some of the proceeds will go toward the development of new products and services. Legal Balance's bond issue was distributed by the investment banking firm Evernord.

“Our sincere congratulations to Legal Balance for the listing of their bonds on the Nasdaq Baltic First North Market,” says Saulius Malinauskas, President of the Nasdaq Vilnius Stock Exchange. “It is very good to see Lithuanian companies recognizing Nasdaq Baltic First North as an attractive path to financing for business development. We wish Legal Balance all success in their ambitions and look forward to further working with them in the future”

“Going to the capital markets confirms that the company is reliable and its operations transparent. As a sustainable, growing player in the market, we carefully analyze all actions and investments and responsibly weigh possible risks. Over several years, our professional team has built up a base of customers, attracted significant investments, and implemented high customer service standards. These efforts impress not just our current and potential customers but also investors, who show their confidence in us by investing. That inspires and empowers us to grow and raise awareness of the brand,“ says Marius Šlepetis, the CEO of Legal Balance.

Mr. Šlepetis notes that along with this financial injection, the company is beginning a new stage in its development involving faster digitization of services and implementation of artificial intelligence solutions. This, he says, will help make processes more efficient and faster, and services easier and simpler for customers to access.

“Corporate bonds are a convenient and attractive capital raising tool that more and more business sectors are discovering. Legal Balance is successfully using it to enhance the company's growth, and the listing of the issue on the First North alternative market is an engine of additional liquidity for the securities. We have been working with Legal Balance for more than three years and hope to continue writing their business success story together," says Vismantė Šepetienė, the Director at Evernord. 

About Legal Balance

Legal Balance is a LegalTech company which provides account administration, debt management and purchase services, and legal advice to individuals and legal entities. The company is a privileged partner of EOS, a global network of debt collection companies, and carries out collection all over the world. Successfully operating in Lithuania since 2010, in 2018 Legal Balance opened office in Latvia as well. Its main business segment is the purchase of overdue liabilities.

In 2016, the company also introduced the first remote debt management and registration platform in the Baltic states www.eskolos.lt, which caused a breakthrough in the debt management market.

Eskolos.lt is an electronic debt management self-service system for individuals, small businesses, and entrepreneurs. Users can register debtors (both individuals and legal entities) on the platform and seek help from Legal Balance in recovering money or they can sell debts to the company. In 2016, Legal Balance was among the companies recognized by Creditinfo as “Strongest in Lithuania”.

More about the company and its services: www.legalbalance.lt, wwww.eskolos.lt

About Evernord

FMĮ Evernord is a brokerage house and wealth management firm which provides a wide array of services for individuals and asset management services for institutional investors and companies. After a responsible assessment of future risks, it helps companies and funds attract capital and provides them with corporate finance services and consulting.

Evernord Group currently has more than EUR 150 million of assets under management. Evernord Asset Management UAB also manages four real estate funds operating in Lithuania, Latvia, and Estonia. The company was granted permission to manage collective investment undertakings intended for informed investors by the Bank of Lithuania in 2017.

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 (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