Published: 2017-11-10 15:45:31 CET
MADARA Cosmetics
Company Announcement

Information about the results of the initial public offering (hereinafter IPO) of AS MADARA Cosmetics

Inside information, 2017-11-10 15:45 CET -- After summarizing the information on IPO requests and shares allocated, we provide the following information:


  • The total IPO share demand was 1 228 037 shares, representing 255% of the total number of shares offered at IPO, with the following breakdown by country:
    o Latvia 8.5%
    o Estonia 40.5%
    o Finland 40.7%
    o other countries 10.3%
  • The demand breakdown by investor type:
    o private 27.9%
    o institutional 35.5%
    o strategic 36.6%
  • In total 749 requests were received during IPO, out of which 53% were requests from Latvia, 46% were from Estonia, and 1% from other countries.


  • 88% of all private investors received their requested shares in full.
  • 91% of the 396 requests from Latvia received their shares in full.
  • The shares allocated after the IPO have the following breakdown by investor type:
    o private 24%
    o institutional 34%
    o strategic 42%

As a result of the IPO, a strategic investor Oy Transmeri Group AB, a distributor of AS MADARA Cosmetics’ products in company’s currently largest export market Finland, has joined with 6% of the total share amount of AS MADARA Cosmetics. Having Oy Transmeri Group AB as a shareholder is a positive sign for future development with closer cooperation possibilities and growth in the Finnish market.


AS Madara Cosmetics is a rapidly growing and innovative Latvian manufacturer of ECOCERT organic skin care products sold in 25 countries around the world. More information can be found at

         Additional information
         Uldis Iltners
         Managing director
         MADARA Cosmetics AS
         P +371 66154812