Eleving Group, a global fintech company based in the Baltics and Luxembourg, has recently launched its Initial Public Offering (IPO). The IPO will run until October 8th and is expected to start trading on the Nasdaq Riga Stock Exchange and Frankfurt Stock Exchange around October 16th.
During the IPO, Eleving Group plans to offer up to 24.5 million ordinary shares at a price range of EUR 1.60 to 1.85 per share. This offering could result in an equity value of EUR 160-185 million before the issuance of new shares. The gross proceeds target for Eleving Group is up to EUR 30 million, including Overallotment Shares.
Investors from Latvia, Lithuania, Estonia, and Germany can participate in the IPO, with the minimum investment being one share. The International Securities Identification Number (ISIN) for Eleving Group is LU2818110020.
The net proceeds from the IPO will be used to develop the business of Eleving Group by launching new products, expanding into new markets, and improving access to capital markets. In the short term, the funds may also be used to pay off existing debt and for general corporate purposes.
Eleving Group has a diverse portfolio in the vehicle and consumer financing business, operating in 16 markets across 3 continents. The company has a strong track record of growth, with a historical customer base exceeding 1.3 million customers and a total loan volume of over EUR 1.8 billion.
In the first half of 2024, Eleving Group reported a record half-year profitability, with a net profit of EUR 15.4 million, revenues of EUR 102.0 million, and adjusted EBITDA of EUR 43.6 million. The company’s net portfolio also increased to EUR 342.5 million during this period.
To provide additional value to investors, Eleving Group aims to offer semi-annual dividends based on a payout ratio tied to the company’s equity ratio post-dividends. The company’s dividend policy ensures that shareholders receive a fair return on their investment.
Overall, Eleving Group’s IPO presents an exciting opportunity for investors to participate in the growth story of a successful fintech company with a strong presence in the global market. Interested investors can find more information about the IPO on Eleving Group’s website and participate in investor calls to learn more about the company’s future plans and financial performance.