The below announcement text was provided to AS Mintos Marketplace by AS DelfinGroup (registered in Latvia under registration No. 40103252854). AS Mintos Marketplace has not checked or otherwise verified the information provided by AS DelfinGroup. DelfinGroup is a cooperation partner of Mintos and offers investment opportunities on mintos.com. AS Mintos Marketplace is not acting as an offeror or a distributor on behalf of AS DelfinGroup.
THIS IS IPO ADVERTISEMENT
DelfinGroup launched its initial public offering (IPO) of 8 395 000 new shares on the Nasdaq Riga stock exchange on Tuesday, 28 September 2021, and the public offer prospectus has been published.
According to DelfinGroup, the offering is available to retail investors in Latvia, Estonia, and Lithuania plus institutional investors qualified in Latvia and selected countries of the European Economic Area (which have implemented the Prospectus Regulation).
DelfinGroup states that it plans to raise up to € 12.76 million (gross) in proceeds during the IPO and that all capital raised will be used to further grow the company and reduce the cost of financing. It also states that the current DelfinGroup shareholders will not sell any of their shares during the IPO process.
According to DelfinGroup, by the end of 2024, the company plans to double its consolidated net loan portfolio to over € 70 million. In addition, gradually increasing its profitability, in 2024 the company plans to reach EBITDA of € 17.6 million, as well as pre-tax profits of € 12.9 million.
DelfinGroup’s experience with Nasdaq Riga
As stated by DelfinGroup, it’s been issuing bonds on Nasdaq Riga for over 7 years, during which the company issued bonds six times for the total amount of € 27 million. The first two bond issues were listed on Nasdaq Baltic Main List, the two following ones are currently being listed on the Nasdaq Baltic First North Bond list, and another two issues were private placements. Bonds of the first two issues have been fully repaid. According to DelfinGroup, the amount of active bond issues is € 18.5 million with an average investment of € 115 000 per investor. In addition, the investment amount of related parties into the company bonds does not exceed 1% of the total amount of bonds outstanding.
AS DelfinGroup, formerly known as SIA ExpressCredit, was founded in 2009 and is the owner company of the loan originators Banknote and VIZIA. DelfinGroup is the second-largest non-bank consumer lender in Latvia. Since its inception, the company has issued €303 million of pawn loans and consumer loans and the client base has reached almost 400 000 customers. In 2020, the company’s revenue was €23.7 million, the loan portfolio reached €34.7 million, EBITDA increased to €9.3 million, and profit before taxes reached €4.6 million. Starting from 06.05.2021 there have been changes in the ownership structure and some equity investors overlap with Mintos.
Disclaimer by AS Mintos Marketplace
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