DelfinGroup plans IPO on Nasdaq Riga in 2021

Latvian lending company DelfinGroup plans to launch its initial public offering (IPO) of shares on the Nasdaq Riga stock exchange in 2021. Details on the amount and price of shares to be issued will be announced before the initial public offering, and a prospectus will be made available after approval by the Latvian regulator FCMC. 

DelfinGroup shares that it aims to attract additional financing to strengthen its position as a market leader, develop new and innovative consumer lending products for various social groups, and further build out its consumer lending business.

 Didzis Ādmīdiņš, Chairman of the Managing Board, AS DelfinGroup: 

“The stable growth of AS DelfinGroup and its successful experience in attracting financing on the Nasdaq Riga stock exchange so far enable us to take the next step and begin to plan the public listing of the company’s shares. Until now, very few companies in Latvia dared to offer their shares on the stock exchange. By doing so, we want to not only open an opportunity for retail and institutional investors to participate in our story of stable growth, but also inspire other companies to make a start on the stock exchange. We anticipate that upside for new shareholders can come not only from an increased share price, but also from dividends paid on a quarterly basis. Over the last three years, the company has paid €6.73 million in dividends.”

 Daiga Auziņa-Melalksne, Chairman of the Nasdaq Riga Management Board: 

“We are pleased that the experience gained by DelfinGroup as an issuer of public bonds has inspired the company’s shareholders to set new, ambitious growth targets. We wish them success in their planned public issue of shares.”

In 2020, the unaudited consolidated turnover of AS DelfinGroup reached €24 million (+8% YOY), its credit portfolio amounted to €34 million (+9% YOY), and EBITDA increased to €9 million (+8% YOY). The total number of clients served by AS DelfinGroup in Latvia has exceeded 400 000, with 35 000 unique loans issued per month on average.

Delfin Group on Mintos

Delfin Group joined Mintos in 2016. The current outstanding portfolio of DelfinGroup on Mintos is €13 162 697. There are 73 271 investors with active investments in DelfinGroup loans with an average investment of €180 per investor.

About DelfinGroup

DelfinGroup is a licenced financial services company founded in 2009, which currently represents three brands – Banknote, VIZIA and Rīgas pilsētas lombards. The company employs 270 professionals at 92 branches located in 38 Latvian cities and towns. DelfinGroup is a member of the Latvian Chamber of Industry and Commerce. The core services of the group include the sale of pre-owned goods in branches and on the Internet, pawn loans, consumer loans, and senior loans. DelfinGroup bonds are listed on the Nasdaq Riga First North bond list.

Legal disclaimer by AS DelfinGroup:

Important: The information provided herein is not investment advice nor a proposal. This is only general information about the intention and plans of AS DelfinGroup in connection with the possible IPO process. All investment decisions must be based on a prospectus approved by the Financial and Capital Market Commission and professional assessment or advice.


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