Continuing sustainable development, AS SAKRET HOLDINGS is taking the first step in the capital market
AS SAKRET HOLDINGS, one of the leading manufacturers of dry and ready-to-use construction mixtures in the Baltics,
has taken the first step in the capital market – the company’s bonds are listed on the Nasdaq Riga Baltic First North market.
This will allow the company to continue to grow, strengthen its position in the Baltics and increase exports.
On March 2, SAKRET HOLDINGS bonds in the amount of 3.79 million euros are listed on the Nasdaq Riga Baltic First North market. The nominal value of one bond is 1,000 euros.
Andris Vanags, Chairman of the Council of SAKRET HOLDINGS, emphasizes: “By offering bonds to investors, the goal of SAKRET is to obtain additional financing for business development. This will help strengthen the company’s position in the Baltic market and increase exports.” According to A. Vanags, the financing obtained on the capital market has been used to refinance the existing liabilities, as well as to supplement the working capital necessary for the company’s growth.
In 2019, the turnover of SAKRET HOLDINGS according to unaudited data was 21.87 million euros, which is 2.8% more than a year earlier, but the group’s profit exceeded 8.2 million euros. “Taking into account the stable growth of SAKRET HOLDINGS over several years and the good financial results of the past year, I am sure that investors will be interested in our bonds,” says A. Vanags.
“Congratulations to SAKRET HOLDINGS on the inclusion of the bonds in the Nasdaq Baltic First North market,” says Daiga Auziņa-Melalksne, Chairman of the Board of Nasdaq Riga. “It is very pleasing to see that the Baltic alternative market First North helps such promising, growing companies as SAKRET to continue the growth story and expand the scale of their activities,” added Auziņa-Melalksne.
Jānis Endziņš, Chairman of the Board of the Latvian Chamber of Commerce and Industry, emphasizes: “The bond issue on the stock exchange will allow the SAKRET holding to grow even faster. In fact, with this step, the company is entering a new phase of development, which will be achieved both by the additional attracted financing and the improvement of internal processes that had to be done, to ensure the listing of the bonds on the stock exchange. I hope that this will encourage other Latvian capital producers to look more and more towards the stock exchange.”
It was already reported that in order to obtain financing for the company’s further growth, long-term capital investments and refinancing of existing liabilities, at the end of 2019 SAKRET attracted EUR 8 million in financing from BlueOrange Bank and issued EUR 3.79 million in bonds. The transaction was carried out in close cooperation with Oaklins Baltics, a bank and M&A consultant.
The Nasdaq Baltic First North market is suitable for growing companies to attract growth capital and promote recognition, enjoying all the advantages of a public company. First North is an alternative market that can serve as a first step towards a regulated market.
AS SAKRET HOLDINGS with four factories in Latvia, Lithuania and Estonia is one of the leading manufacturers of construction mixtures in the Baltics. Latvian citizens own 100% of the company’s shares. SAKRET HOLDINGS companies have received awards in the Baltic States and Scandinavia for the production of innovative materials and export development. The successful operation of the company is based on the work of a cohesive and professional team, customer service, training of construction workers and close cooperation with partners.Back to Top