To offer you the best possible browsing experience, we use cookies on our website. To learn more and to browse the cookies, read our "Cookie Processing Conditions" section in the "Cookie Policy".
Accept all

Mandatory cookies enable important features, such as accessibility of the website. Without these cookies, the website cannot function properly. Since essential cookies are necessary to deliver our services safely, you cannot refuse them. If, regardless of security concerns, you decide you do not wish to receive essential cookies from us, you may block or delete them by changing your web browser settings.

Name Provider Purpose Expiry Type
laravel_session It maintains the browser session data to provide the basic page functionality for a single visit. session http
xsrf-token It is used to protect the page against malicious or fake HTTP requests. session http
show_cookie_notice Keeps the cookie notification window closed/open. 5 years http
For the media

Virši shares commence trading on Nasdaq First North

Today, on 11 November 2021 at 10:00, share trading begins for the largest and fastest growing Latvian local fuel and alternative energy source trader AS Virši-A (hereinafter – Virši) on Nasdaq Riga Alternative Market First North. The listing of Virši shares on the stock exchange was marked by ringing a symbolic opening bell of trading at one of the Virši service stations on Lubāna Street in Riga.

"A successful start on the stock exchange is both the end of a long period of preparation and the beginning of a new operational phase, now with the official status of a public company. We are grateful to every investor for their large interest in the initial public offering of our shares. Almost 7,500 or nearly 75% of all investors have acquired at least one hundred shares. In turn, for the trust shown, these investors can apply for the Virši shareholder benefit programme already today, therefore receiving practical and daily benefits throughout the Virši station network. The active participation of investors will allow us to further accelerate the development of the company, as well as to improve the availability of alternative fuels in the Latvian market,” emphasized Jānis Vība, the Chairman of the Board of Virši.


“We welcome Virši to Nasdaq Riga and to the Baltic First North market,” said Daiga Auziņa-Melalksne, the CEO of Nasdaq Riga and Head of the Nasdaq Baltic Market. “The First North market is a growth platform for ambitious companies like Virši and we are excited to see that so many investors want to be part of their growth story. We wish them the success as their journey as a public company begins.”


On 4 November 2021, the Board of Nasdaq Riga decided to start the process of listing of Virši shares on Nasdaq Riga Alternative Market First North on 11 November.


About the IPO results of Virši:
The Virši IPO was successfully concluded on 5 November 2021, attracting record interest from investors, with demand almost twice exceeding the base offer: EUR 13.4 million versus the base offer of EUR 6.8 million.


9,979 investors participated in the IPO, who applied for 1,735,489 new shares of Virši, and the company managed to attract gross proceeds of EUR 7.8 million. Almost half or 4,732 investors who subscribed for Virši shares are from Latvia, 5,128 investors from Estonia and 97 investors from Lithuania. Out of a total of 9,979 investors, 15 are institutional investors. From all subscriptions the largest part or 60% received the number of shares subscribed for. The allocation principles reflected what was written in the prospectus. The first 50,000 shares were available to the company's employees. Thereafter, all investors in the retail offer were granted 100 shares regardless of the time of subscription. After the allocation to institutional investors, all remaining shares were distributed proportionally to the retail offer investors according to the unsatisfied demand ratio. As a result, retail investors received 84% of the offered shares.


Shareholders’ Benefit Programme Conditions:
Any shareholder who owns at least 100 Virši shares (these can of course also be purchased on the stock exchange) may join the Virši shareholders’ benefit programme. By filling in the application form on the website, a loyalty card will be sent by post, which will provide a discount of 7 euro cents per litre of fuel, a 30% discount on snacks, coffee, car maintenance products, refillable windshield fluid, and car wash in the Virši station network. It is planned to regularly supplement the benefits of the programme and inform the participants about it.

Additional information about the Virši journey to the stock exchange and future development plans are available on the website in the section Investors:  
The financial advisors of the Virši IPO process are LHV Bank and the law firm Eversheds Sutherland Bitāns.
The Virši prospectus approved by the Financial and Capital Market Commission is available on the website:

The Certified Adviser for AS Virši-A is AS LHV Pank.


About Virši:
AS Virši-A is the largest and fastest growing domestic fuel trader, with 26 years of experience in the Latvian fuel trade sector. Today, the Virši-A network has more than 63 service stations, of which 61 are full-service, and employs more than 627 people in all regions of Latvia.


Additional information:
Undīne Priekule
Virši communication specialist
Phone: 26141219