Eleving Group Begins Trading on Nasdaq Riga and Frankfurt Stock Exchange

On October 16, Eleving Group, a fintech company based in the Baltics, commenced trading its shares on the Nasdaq Riga Baltic Main List and Frankfurt Stock Exchange's Prime Standard. This follows the largest IPO by a Latvian private capital company, which concluded on October 8.

The IPO raised EUR 29 million, attracting 4,515 shareholders. Institutional investors, mainly from the Baltics and Western Europe, acquired 72% of shares, while retail investors from the Baltic States, with Estonia leading at 52%, bought 28%. Shares are priced at EUR 1.70, with 18.4% of the company's shares available for trade.

Eleving Group intends to pay dividends twice yearly, equaling 50% of profits. The funds will support business expansion and optimize debt costs, aiming to nearly double the company's size in three years.