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AS DelfinGroup supplements its IPO prospectus

Consultations have been held with the Latvian Financial and Capital Market Commission (FCMC) as well as Nasdaq Riga in recent days on account of selected operational and financial indicator information published last week by the Company. It has now been decided to formally reflect these as inseparable components of the IPO prospectus. 


The selected third quarter items disclosed last week by the Company via a Nasdaq announcement (https://nasdaqbaltic.com/statistics/en/news/323590) confirm the validity of the longer-term financial targets included in the IPO prospectus. Among other things, the prospectus will be supplemented with the information that EUR 15.3 million of loans were issued in the third quarter of 2021, which is 29% more than in the previous quarter. As a result, the Company's total net loan portfolio reached a historical high of 35.8 million euros, representing a 32% year-on-year increase. AS DelfinGroup targets to reach a loan portfolio of 51 million euros by the end of 2022 and to exceed a loan portfolio level of 70 million euros by the end of 2024.


Didzis Ādmīdiņš, Chairman of the Board of AS DelfinGroup: “The prospectus is the main legal document that investors are relying on in the IPO process. Therefore, for sake of completeness we decided to include the latest available operational and financial information of the Company for the 3rd quarter of 2021.” 


Prospectus Regulation (EU) 2017/1129 stipulates, inter alia, that after the publication of a supplement to a prospectus, investors who have already submitted a subscription undertaking for the offer shares prior to the publication of a supplement are given at least two working days to contemplate the new information and withdraw their subscription undertaking, if decided. Taking into account the mentioned requirement, AS DelfinGroup has made a decision to extend the IPO and to additionally provide an opportunity for new investors to submit a subscription undertaking within the IPO. 


It is expected that the IPO of AS DelfinGroup will be extended until around 14 October 2021 (including). The exact date will be known as soon as the FCMC has approved the supplement to the prospectus approved on 21 September 2021.The offer period for AS DelfinGroup shares was launched on 28 September, and price per offer share is EUR 1.52. There is no limit for number of shares subscribed for. 


AS DelfinGroup is publicly offering up to 7,300,000 shares (plus up to 1,095,000 additional shares pursuant to an over-allotment option if exercised) to be listed and admitted to trading on Baltic Main List of Nasdaq Riga. LHV Bank and the law firm Eversheds Sutherland Bitāns are acting as AS DelfinGroup IPO advisors. 


About AS DelfinGroup 

AS DelfinGroup is a licenced technology-based financial services company that was established in 2009 and operates under the brand names Banknote and VIZIA. The company continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), as well as sale of pre-owned goods both online and at more than 90 branches across Latvia. On average, 35,000 thousand loans are issued every month and serviced by the professional team of more than 250 AS DelfinGroup employees. The company has a total of over 400,000 registered customers. Since 2014, AS DelfinGroup has been known on the Nasdaq Riga as a bond issuer. The company regularly pays dividends to its shareholders. In 2020, the company's net loan portfolio grew to EUR 34.6 million, while its EBITDA reached EUR 9.3 million, with profits before income tax for dividends of EUR 4.65 million. The company’s sustainability is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion and facilitating the circular economy. The company has been profitable every year since 2010. 


For further information, please contact:
Kristaps Bergmanis,
AS DelfinGroup Management Board Membe
Tel: +371 26189988
WhatsApp: +371 26189988
E-mail: [email protected]

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