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Published: 2021-10-14 09:00:00 CEST
Nasdaq Riga
Press release

Nasdaq Welcomes Sun Finance to the Baltic First North Bond Market

Riga/Tallinn/Vilnius, Nasdaq Baltic Market, October 14, 2021 – Nasdaq (NDAQ) announces that bonds issued by Sun Finance Treasury Limited, subsidiary of Sun Finance Group, AS (Sun Finance), have been admitted to trading on the Nasdaq Baltic First North Market by Nasdaq Riga as of today, October 14.

The size of the bond issue is EUR 15 million. The bonds have a nominal value of EUR 1,000 and an annual interest rate of 11% with interest paid quarterly. The bonds mature on September 30, 2022. The bonds were offered to investors in the form of a private placement.

“We are delighted that Sun Finance has chosen to list its bonds on the Nasdaq Baltic First North market and welcome the company to the exchange as a new issuer,” said Daiga Auziņa-Melalksne, the CEO of Nasdaq Riga and Head of the Nasdaq Baltic Market. “It is particularly pleasing to see a new-generation Latvian company make use of the opportunities First North offers to pursue its business objectives and put the company in the public spotlight. We look forward to supporting them on their growth journey.”

“In the little more than four years since Sun Finance’s founding, we have seen thrilling growth, shown by a team of now over 1,000 people on three continents and the recent milestone of exceeding 1 billion euros in loans to our customers. We are maintaining our focus and, with the growing need for flexible, accessible and online financing tools globally, we look forward to continuing to grow both horizontally by entering new countries and vertically by developing new products. The inclusion of Sun Finance’s bonds on the Nasdaq Baltic First North market allows a wider range of investors to take part in our success story, which we aim to continue for the long term,” notes Toms Jurjevs, the CEO and founder of Sun Finance.

The value of the loans issued by Sun Finance in the four years since it began activities reached EUR 1 billion in July 2021. The Financial Times has taken note of the company’s success. The UK-based newspaper this year ranked Sun Finance as the second fastest growing company in Europe. It was the first time a company from Latvia made it into even the top 50 on the annual FT list of Europe’s fastest growing companies.

Signet Bank serves as the Certified Adviser for Sun Finance on the Nasdaq Baltic First North market. First North is a multilateral trading facility (MTF) tailored to support growing ambitious companies that want to raise capital and get the visibility and credibility of being a public company.

About Sun Finance

Sun Finance Treasury Limited is subsidiary of Sun Finance Group, AS. Sun Finance is a financial technology company established in Riga, in 2017, by CEO Toms Jurjevs and co-founder Emīls Latkovskis. Sun Finance operates as an online consumer financing platform in seven countries on three continents, with headquarters in Riga, Latvia. Sun Finance has more than 6 million registered customers and employs more than 1000 people, 148 of whom work at the headquarters in Riga. The company is led by a team of seasoned professionals with more than 10 years of experience in managing FinTech, financial and IT companies.

About Nasdaq

Nasdaq (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 www.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

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