DelfinGroup plans to announce a new bond public issue in the Baltics
Latvian fintech company DelfinGroup convenes a shareholders' meeting on 25 July. The shareholders' meeting is scheduled to decide on authorizing the Management Board of the joint stock company to organise a public bond issue of up to EUR 15 million in Latvia, Estonia and Lithuania. The bonds are to be offered to both retail and institutional investors.
The funds raised through the bond issue would be used to refinance existing bonds and liabilities. DelfinGroup is a leader in its field in Latvia and from the end of 2023 it also started its operations in the Lithuanian market. The new bond offer would be open to investors in all three Baltic States, attracting both existing and new investors.
DelfinGroup was launched in 2009. DelfinGroup has been profitable since 2010. In 2023 revenue increased by 41% to 50.4 million euros compared to 2022, while profit before tax was 8.3 million euros. In the first quarter of this year, the company has continued to generate growth in all business segments, with revenue up 26% compared to the same period last year. Summarising the company's performance in the first 6 months of 2024, sales of pre-owned, slightly pre-owned and new goods reached 7.7 million euros, up 9% compared to the first half of 2023. In the first six months of the year, consumer loan issuance amounted to 38.3 million euros, 13% more than in the same period last year. Pawn lending increased by 10% to 12.9 million euros. The total amount of loans issued by the company during the period was 51.1 million euros.
Didzis Ādmīdiņš, Chairman of the Management Board of DelfinGroup, comments on the planned bond issue: “DelfinGroup currently has more than 9 000 shareholders and 500 bondholders who have shown their trust in our company over the years. It should be mentioned that so far all bond issues have been private, but this time we are planning the first public bond issue, which will allow all interested parties to join the DelfinGroup investor community and is certainly a new milestone in our development. DelfinGroup results confirm that the company is on track to continue delivering high returns to our investors.”
The company first issued bonds in 2013 and has been an issuer of shares on the Nasdaq Baltic Main List since 2021.
The issue is planned to be a total of 15 million euros and trading on the official Baltic Regulated Market Corporate Bond list maintained by Nasdaq Riga.
If the shareholders agree to approve the public offer, DelfinGroup will announce the details of the offer, including the subscription period and terms, following the approval of the planned prospectus by the Bank of Latvia.
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 intended Public Offering of notes of AS DelfinGroup. Every investment decision must be based on a base prospectus approved by the Bank of Latvia. An approved prospectus will be published on AS DelfinGroup website once available.
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About DelfinGroup
AS DelfinGroup is a licenced fintech company established in 2009 and operates under the brand names Banknote and VIZIA. The company has been profitable every year since 2010. DelfinGroup continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), and the sale of pre-owned goods online and at more than 90 branches across Latvia and Lithuania. Since 2014, DelfinGroup has been known on the Nasdaq Riga Stock Exchange as a bond issuer and, since 2021, as a listed company on the Baltic Main List. The company regularly pays dividends to its shareholders. The sustainability of DelfinGroup is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion, and facilitating the circular economy.
For further information, please contact:
Artūrs Dreimanis,
DelfinGroup Investor Relations Manager
Phone: +371 26189988
E-mail: IR@delfingroup.lv
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