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:
On Monday, 26 September, the Nasdaq Riga stock exchange started the subscription to the public offer shares of AS DelfinGroup shareholders. Investors from Latvia, Estonia and Lithuania will be able to apply for public offering shares until 5 October inclusive. Investors will have the opportunity to purchase part of the shares which are owned by the company’s two largest shareholders – SIA L24 Finance and SIA EC finance. Shareholders will sell up to 5.4 million shares of DelfinGroup within the framework of the public offering, i.e., up to 11.92% of all DelfinGroup shares. The price per share is €1.44.
The Latvian Financial and Capital Market Commission (FCMC) approved both prospectuses of the public offering of shares on 21 September. According to the prospectuses, L24 Finance will offer to sell up to 3.65 million shares, and EC finance up to 1.75 million shares as part of the public offering. The announcement of the results of the public offering is scheduled for 10 October, while the purchased shares will be transferred on 12 October. Offer shares will be allocated proportionally (pro-rata) to the purchase applications received during the offer period.
The share price on the stock exchange on the day of approval of the prospectuses was €1.52. However, the volume-weighted average share price from 12 July 2022 until 12 September 2022 has been €1.485. Therefore, the shares will be offered with a discount from the average share price, following the usual market practice for such transactions.
“We can consider the plan of shareholders to sell a part of their shares through a public auction as a kind of continuation of the IPO, which will result in an increase in the liquidity of the shares and trading volumes on the stock exchange. Therefore, the increase in the number of shares in the free float will be beneficial both for the stock exchange and for existing and new shareholders of DelfinGroup. The company's growth, increasing profit and revenue indicators and regular dividends have increased investors' interest in the DelfinGroup, which is also reflected in the recent increase in the share price on the stock exchange. For new investors, this is an opportunity to purchase a larger package of shares at a favorable price, thereby supplementing or diversifying their investment portfolio.”
DelfinGroup investors are provided with regular income by the company’s dividend policy. At least 50% of the company’s profit has been paid to shareholders in dividends every quarter, and the company plans to continue this practice. In addition, annual dividends are also paid. Since 1 January 2022, the company has made four dividend payments for almost €4 million (€0.0879 per share). Two more dividend payments are planned this year.
Currently, the largest shareholders of DelfinGroup are L24 finance (57.53%), EC finance (18.81%) and AE Consulting (8.83%), while other shareholders own 14.83% of the shares.
Read DelfinGroup’s full announcement
According to the public offerings’ proponents, detailed information about the mentioned public offerings of DelfinGroup shares is published on the website www.shareoffering.lv. LHV is the managing bank of the public offering, and Eversheds Sutherland Bitāns is the shareholders’ legal advisor.
Disclaimer: This announcement is an unpaid marketing communication in accordance with the Prospectus Regulation and does not constitute investment advice or an offer. The information provided herein contains general forward-looking statements on the Public Offerings of AS “DelfinGroup” shares by (1) SIA L24 Finance; (2) SIA EC finance. Every investment decision must be based on prospectuses approved by the Latvian Financial and Capital Market Commission. Please consult an expert before investing, if necessary. Approved prospectuses (L24 finance, EC finance) are available on Latvian Financial and Capital Market Commission’s website (www.fktk.lv).
About DelfinGroup
DelfinGroup 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 more than €371 million of pawn loans and consumer loans, and the client base has reached 400 000 customers. Banknote offers personal loans and pawn loans (loans secured with personal property) in its 93 branches across Latvia. VIZIA specializes in consumer loans, focusing on medium-to-higher income customers and their financial needs in various life situations. Shares of DelfinGroup are listed on the Nasdaq Baltic Main list.
Since 6 May 2021, there have been changes in the ownership structure, and some equity investors have overlapped with Mintos.
Disclaimer by AS Mintos Marketplace
Please be informed that according to the information in the publicly available prospectuses referred to in the above announcement of DelfinGroup, as at the date of this publication, the public offer is intended to be made to retail investors in Latvia, Estonia and Lithuania only, and certain non-retail investors.
Mintos shall not be responsible for any direct or indirect loss arising from the use of the information contained in this publication.
This information in this publication is not intended as a solicitation, offer, or recommendation to buy or sell any investments, or to engage in any other transaction. Any investment decision must be based on an analysis of the risks related to the investment. Before investing, consider your knowledge, experience, financial situation, and investment objectives.
