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 www.madaracosmetics.com
MADARA Cosmetics AS
P +371 66154812