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It is possible to reserve the desired number of Virši shares until Friday

From 25 October, any resident of the Baltic states can subscribe for the shares of the Latvian fuel and alternative energy source trader Virši. There are only 5 days left until the initial public offering (IPO) officially ends on the 5 November at 15:30 EEST.

 

“The journey of Virši to the listing on the Nasdaq Riga First North Stock Exchange has been purposeful. We have worked actively to prepare the company for the public offering – both by improving corporate governance and transparency, and by developing the first Environmental, Social, Governance Report. We have fulfilled all the prerequisites so that our shares could be available to every Baltic resident and that anybody interested can become a part of the Virši success story. Thank you to all the participants who joined the Virši webinar, in which we talked more about the history, strategy, and future of the company. More than 1,000 participants took part in the webinar, which is a strong indicator on a local scale, and shows significant interest of the private parties’ segment in the acquisition opportunities of the company’s shares,” said Jānis Vība, the Chairman of the Board of Virši.

 

Private and institutional investors have the opportunity to subscribe for a total of 1,509,121 new company shares. The total number of shares may be increased by another 226,368 additional shares in case of high demand, thus the total number offered may reach up to 1,735,489 shares. The price per one share is EUR 4.49 and the minimum subscription amount is one share. Although the division between institutional and private investors is not fixed, the company’s aim is to address private investors directly as shareholders and participants in the shareholder loyalty programme.

 

As a result of the IPO, Virši plans to attract new capital of up to 6.9 million euros, directing most of the funding to improving the supply and infrastructure of alternative fuels, promoting the availability of compressed natural gas (CNG), biomethane and LNG (liquefied natural gas) and the availability of electric car charging points in Latvia. It is also planned to pay significant attention to increasing the sustainability and efficiency of the company's operations.

 

To subscribe for shares, investors must apply to their bank. Subscriptions in the Baltic States are available through Nasdaq Riga members. Full list of members is available on the stock exchange website: https://nasdaqbaltic.com/statistics/lv/members.

 

The recording of the Virši IPO webinar presentation can be found on virsi.lv in the Investors section: https://www.virsi.lv/investoriem

It is planned to announce the results of the IPO by 8 November. The trading of shares on Nasdaq Riga First North is expected to start around 11 November.

 

The financial advisors of the Virši IPO process are LHV Bank and Eversheds Sutherland Bitāns. The Virši IPO prospectus approved by the FCMC is available at: www.virsi.lv/investors.

 

The information contained in this announcement does not constitute investment advice or an offer. The information provided in this announcement contains general forward-looking announcements and the intentions and plans of AS Virši-A regarding the initial public offering (IPO) of shares. Any investment decision is acceptable considering the prospectus approved by the Latvian Financial and Capital Market Commission. Approval of the prospectus does not constitute a proposal to purchase shares.

 

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
E-mail: undine.priekule@virsi.lv
www.virsi.lv