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Published: 2022-11-07 07:00:00 CET
Nasdaq Tallinn
Announcement from the exchange

Results of the initial public offering of J.Molner AS shares


The initial public offering of the shares of J. Molner AS (registry code 16579077 hereinafter J. Molner) ended on 4th November 2022.

Up to 123,152 shares were publicly offered, whereas J. Molner reserved the right to increase the number of shares on offer by 20% up to the total of 147,783 shares.  During the offering, 838 investors, approximately a fourth of whom were from Latvia, subscribed for a total of 86,001 shares for EUR 698,328.12.

“Sincere thanks to all investors and I would like to underscore active participation of the Latvian investors along with the Estonian ones. J. Molner will be the only listed pharmaceutical company in the Baltics, when the company’s shares are admitted to trading on First North operated by Nasdaq Tallinn. The status of a public company will give to the company stock a market value and a transparent way to incentivize and retain our team.

We are satisfied with result in current challenging capital markets and will go ahead with our plans, although about 70% of the 1 million euros was raised. From the IPO proceeds we plan to recruit new personnel and increase the capabilities of the company’s laboratory at Tehnopol, Tallinn. The company will also use the income for accelerating the launch of new products, including the first drugs using the J. Molner label in 2023,” commented the management board member of J. Molner Jason Grenfell-Gardner.

Molner decided to distribute all subscribed 86,001 shares to the investors. The approximate net revenue from the offering in the sum of 608,328.12 shall be used by J. Molner for expanding its team and launching new generic drugs but also to increase the capabilities of its laboratory.

The distribution of the new shares among the investors who participated in the offering is based on the following principle:

  • all investors who have subscribed for the shares shall receive the amount of shares they subscribed for.

The settlement of the offering is intended to take place on or about 9 November 2022. The shares of J. Molner are planned to be admitted to trading on the multilateral trading facility First North, the first trading day will be on or about 10 November 2022. 


For additional information please contact:

Jason Grenfell-Gardner

J.Molner AS

Management Board member

+372 536 00 346