First State-Owned Company IPO in Latvia: LAU Infra Grupa Shares to List on Stock Exchange
LAU Infra Grupa shares will be listed on Nasdaq Baltic Official List from July 3 following a successful IPO that raised €6.19 million from investors.
Nasdaq Riga has announced that LAU Infra Grupa shares will be included in the Baltic Official List as of July 3. This marks the first time a Latvian state-owned company has conducted an initial public offering (IPO) and been listed on a stock exchange.
During the IPO, investors purchased 3,944,893 shares for a total of €6.19 million. A total of 1,981 investors participated, including 1,966 retail investors and 15 institutional investors. Institutional investors received 53% of the allocated shares, while retail investors obtained 47%. Notably, major Baltic pension funds managed by INVL, SEB, Swedbank, and Luminor took part.
Liene Dubava, Chair of Nasdaq Riga, stated that the IPO is a long-awaited step and that the involvement of pension funds demonstrates confidence in both LAU Infra Grupa and the Latvian capital market as a whole. Transport Minister Rihards Kozlovskis emphasized that this is a significant day in the history of Latvia's capital market, with particular satisfaction that the first listed state company comes from the transport sector.
Vilnis Vitkovskis, Chairman of LAU Infra Grupa, thanked investors for their trust and pledged to continue operating transparently. LAU Infra Grupa is one of the largest and most strategically important infrastructure and road maintenance companies in Latvia, ensuring the continuous operation of the state road network, implementing defense infrastructure projects, and producing mineral materials.
