IPO: Eleving Group startet öffentliches Aktien-Angebot – Preisspanne zwischen 1,60 und 1,85 Euro je Aktie

Montag, 23. September 2024

Mitteilung der Eleving Group:

Eleving Group – start of the Initial Public Offering (IPO)

Key terms of the Offering

– Shares to be offered within a price range of EUR 1.60 – 1.85 per share

– The offered price range implies an equity value of EUR 160-185 million before the issuance of new shares

– Up to 24.5 million ordinary shares are offered

– Gross proceeds target for Eleving Group up to EUR 27 million for Base Shares and up to EUR 30 million including Overallotment Shares

– Potential Upsize option for existing shareholders of Eleving Group up to EUR 10 million

– Offer period for all investors (institutional and retail investors in Latvia, Lithuania, Estonia, and Germany) to commence on September 23, 10:00 CEST / 11:00 EEST to October 8, 14:30 CEST / 15:30 EEST

– The minimum investment is one share

– International Securities Identification Number (ISIN): LU2818110020

Eleving Group, a pan-Baltic-headquartered and Luxembourg-domiciled global fintech company operating in the vehicle and consumer financing business, has started its IPO that will last until October 8, 14:30 CEST / 15:30 EEST. The first day of trading on the Nasdaq Riga Stock Exchange’s Baltic Main List and the Frankfurt Stock Exchange’s regulated market (Prime Standard) is expected on or around October 16.

The IPO consists of Eleving Group (i) issuing up to 16,900,000 newly issued ordinary shares (“Base Shares”), (ii) offering up to 6,000,000 existing ordinary shares from the holdings by all shareholders of Eleving Group (“Upsize Shares”) and (iii) issuing up to 1,600,000 newly issued ordinary shares (“Overallotment Shares”). Up to 14.5% of Eleving Group shares are offered in the base scenario. The price range is set between EUR 1.60 and 1.85 per share.

Orders submitted in the retail offering must be submitted at a price corresponding to the highest level of the price range, i.e., EUR 1.85 per share. If the final offer price is lower than the maximum price of EUR 1.85 per share, the difference will be refunded to investors. The final offer price will be determined through a book-building process and will be the same for investors in both retail and institutional offerings. If there is an oversubscription or the public offer is partially or fully canceled, one may not receive all the shares it has applied for. Payment will only be required for the shares that are actually allocated, and any excess funds will be refunded to the bank account. The existing shareholders of Eleving Group will be subject to a 24-month customary lock-up period as further described in the Prospectus.

Shares are offered by way of a) a public offer to retail investors in Latvia, Estonia, Lithuania, and Germany (Retail Offering) and b) a private placement to qualified investors within the meaning of Article 2(e) of the Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (Prospectus Regulation) in certain selected member states of the European Economic Area and to other selected investors in reliance on certain exemptions available under the laws of respective member states (Institutional Offering).

Eleving Group plans to use the net proceeds of the IPO to develop the business of the Group and its consolidated subsidiaries by launching new products, opening new markets, continuing portfolio development in its existing markets, and achieving better access to capital markets. In the short term, the net proceeds may be allocated to redeem existing debt to lower financing costs and for general corporate purposes.

Retail investors may submit their orders:

– in Estonia: LHV Bank, Swedbank, SEB, Luminor, Citadele
– in Latvia: Swedbank, SEB, Citadele, Luminor, Signet Bank, BluOr Bank
– in Lithuania: Swedbank, Šiaulių Bank, SEB, Luminor, Citadele
– in Germany: Deutsche Börse subscription functionality (DirectPlace) via existing depository banks (Depotbanken).

Timetable of the Offering

– Start of the subscription – September 23, 10:00 CEST / 11:00 EEST, 2024
– End of the subscription – October 8, 14:30 CEST / 15:30 EEST, 2024
– Announcement of results – on or around October 9, 2024
– First day of trading – on or around October 16, 2024

The securities prospectus approved by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg and notified to the Estonian Financial Supervisory Authority (Finantsinspektsioon), Bank of Latvia (Latvijas Banka), Bank of Lithuania (Lietuvos Bankas) and to the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) is available on the Company’s website at https://eleving.com/investors and on https://ipo.eleving.com/.

The IPO’s lead Arranger and Joint Bookrunner is AS LHV Pank, while Auerbach Grayson & CO LLC, Signet Bank AS, and M.M. Warburg & CO (AG & Co.) KGaA have been appointed as Joint Bookrunners for the IPO. Bankhaus Scheich Wertpapierspezialist AG, UAB FMI Orion Securities, and Redgate Capital AS have been appointed as Sales Agents. Aalto Capital (Munich) acts as a Financial Advisor to Eleving Group and its shareholders.

Invitation to Investor call

Eleving Group invites retail and institutional investors, analysts, media representatives and other stakeholders to the Investor call scheduled on 25 September 2024 at 14:00 EEST and 2 October 2024 at 14:00 EEST. Participants are welcome to join whichever call is most convenient for them.

During the calls, the Group’s CEO Modestas Sudnius and CFO Maris Kreics will introduce with the company, its growth story and share the key information about the IPO. The presentation will be followed by a live Q&A session. The Investor call will be held in English.

25 September Investor call registration link here.

2 October Investor call registration link here.

You are welcome to send in your questions to the company by September 24 to the e-mail: ieva.unda@nasdaq.com or submit them through the registration links above.

Eleving Group S.A.

Titelfoto: pixabay.com

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