Nasdaq Welcomes Kalve Coffee to the Baltic First North Market
Riga/Tallinn/Vilnius, Nasdaq Baltic Market, December 6, 2024 – Nasdaq (NDAQ) announces that the shares of Kalve Coffee (ticker: KALVE) have been listed on the Nasdaq Baltic First North Market by Nasdaq Riga as of today.
The listing of the Kalve Coffee shares follows their initial public offering to Latvian and Estonian investors. A total of 1,255 investors subscribed to the shares for a total of 1.16 million euros, as the base volume of the offer was oversubscribed by 16%.
96% of the demand came from Latvian investors.
"Congratulations to Kalve Coffee on their successful IPO. Investors and coffee enthusiasts have shown that dynamic and ambitious companies can attract investor attention and drive them to engage. As a stock exchange, we are pleased to facilitate growth opportunities for companies and investors alike. This is the second Latvian company to offer shares this year. We look forward to more such successes," says Liene Dubava, CEO of Nasdaq Riga.
"We thank everyone who decided to participate in the public offering, therefore becoming a part of the Kalve Coffee family. This trust will help us to implement our development plans and to introduce our brand to coffee lovers outside Latvia in the near future," says Gatis Zēmanis, co-founder and Chairman of the Board of Kalve Coffee.
Kalve Coffee is a specialty coffee roaster founded in 2019 by Gatis Zēmanis, Raimonds Selga and Jānis Andersons with an eye on what they want to leave for future generations. That's why KALVE works to leave a positive imprint on every action, so that it can create an emotionally fulfilling legacy for generations to come. The company has proven that it can be profitable while changing the industry for the better by making decisions based on its core values. KALVE is the first company in the Baltics to be granted the B Corp Sustainability Certificate – the gold standard in ESG risk management, and in 2023 the Company received the "Latvian Sustainable Management Award" from the Bank of Latvia.
Nasdaq First North Market is tailored to support smaller, growing companies that want to raise capital and get the visibility and credibility of being a public company. For investors, First North offers an opportunity to invest in companies that are at an earlier stage of their growth.
Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more: nasdaqbaltic.com
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Media contacts:
Sanita Gailane
sanita.gailane@nasdaq.com
+371 25277733
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