Eleving Group Announces IPO Plans on Nasdaq Riga and Frankfurt Stock Exchanges

On September 11, 2024, Eleving Group S.A. revealed its intention to proceed with an Initial Public Offering (IPO) and list on the Nasdaq Riga Stock Exchange’s Baltic Main List and the Frankfurt Stock Exchange’s regulated market (Prime Standard).

The IPO will grant investors the chance to invest in Eleving Group, a rapidly growing Baltic fintech firm specializing in vehicle and consumer financing across 16 markets and 3 continents. The company plans to issue new shares and potentially offer existing shares as an upsize option.

Eleving Group intends to use the net proceeds from the IPO to expand its business by launching new products, entering new markets, and enhancing its portfolio in current markets. The funds might also be used to reduce debt and for general corporate purposes.

The Offer Shares will be available through a public offering to retail investors in Latvia, Estonia, Lithuania, and Germany, and a private placement to qualified investors within selected European Economic Area states.