Eleving Group Begins Initial Public Offering (IPO)

Eleving Group S.A., a global fintech company focusing on vehicle and consumer financing, has launched its Initial Public Offering (IPO). The IPO, which began on September 23, 2024, and will end on October 8, 2024, aims to offer up to 24.5 million shares within a price range of EUR 1.60 to 1.85 per share. This pricing range implies an equity value of EUR 160-185 million before issuing new shares.

The company plans to trade on the Nasdaq Riga Stock Exchange's Baltic Main List and Frankfurt Stock Exchange's Prime Standard. The IPO includes up to 16.9 million newly issued ordinary shares, up to 6 million existing ordinary shares from Eleving Group shareholders, and up to 1.6 million overallotment shares. Retail and institutional investors in Latvia, Lithuania, Estonia, and Germany can participate, with a minimum investment of one share.

Proceeds from the IPO will be used to launch new products, expand into new markets, and improve existing market portfolios. Additionally, the funds may be allocated for debt redemption to reduce financing costs and general corporate purposes.