After the successful completion of their public offering, shares of organic food producer, AUGA group AB, started trading on the Nasdaq Baltic Main List.
On June Nasdaq Vilnius decided to include AUGA group’s shares in the Baltic Main List on the condition that, the company issues a sufficient number of ordinary registered shares, as indicated in the listing rules of Nasdaq Vilnius. After a successful completion of their secondary public offering, the company met these requirements.
All 80 million offered shares, for the total aggregate amount of EUR 36 million, were sold.
“We significantly increased free floating shares and created more favourable investing conditions for retail and institutional investors. We hope the fact that AUGA group’s shares are now on the exchange’s Main List will attract a larger circle of investors over time,” says Kęstutis Juščius, Chairman of the Management Board at AUGA group.
The offering included 40,000,000 units of shares newly issued by the company and 40,000,000 units of existing shares sold by the company’s main shareholder, Baltic Champs Group, UAB. Demand was 104% of the total shares offered.
“We welcome AUGA group to the Baltic Main List and are delighted that the company has managed to complete one of the biggest secondary share offerings in the history of the Baltic capital markets. We hope this example will serve as inspiration for other companies to tap Baltic capital markets,” says Saulius Malinauskas, President of Nasdaq Vilnius. “We believe that being on the Main List will make the company more visible and bring additional liquidity to investors”.
The company plans to invest the raised funds into unlocking synergies across their farming activities which would enable them to diversify their product range by expanding poultry farms, building modern dairy farms, feedstock and biogas production plants and introducing biogas to agricultural machinery.
After share offering company’s authorized capital rose to 65,950,713.08 EUR. The authorised capital consists of 227,416,252 registered ordinary shares
AUGA group’s shares were also added to the Baltic Benchmark index effective 2 July 2018. That index includes those shares that are most liquid and have the largest free floating market capitalization.