Nasdaq Welcomes Žalvaris to the Nasdaq Baltic First North Market
Vilnius/Riga/Tallinn, Nasdaq Baltic Market, January 8, 2025 – Nasdaq (NDAQ) announces that bonds issued by industrial waste management company Žalvaris have been admitted to trading on the Nasdaq Baltic First North market by Nasdaq Vilnius as of today, January 8.
One of the largest industrial waste management companies in Lithuania – Žalvaris – has successfully raised EUR 5 million through a public bond offering for investors in Lithuania, Latvia, and Estonia. Each bond has a nominal value of EUR 1,000, offers an annual coupon rate of 9,5%, and matures in two years.
The bonds issued by Žalvaris attracted 647 investors and resulted in an oversubscription amounting to EUR 15 million worth of bonds.
“Lithuanian company Žalvaris began the year with a significant milestone by debuting on the Nasdaq Baltic First North alternative market. It is exciting to see more players from diverse industries joining the Baltic capital markets. The debut of Žalvaris is clear evidence of investors' confidence in the company’s strategy, growth and contribution to a more sustainable environment. We extend our best wishes for their future success,” said Gediminas Varnas, President of Nasdaq Vilnius.
“We have been closely following capital market trends for some time, and we can see how rapidly investors' interest in corporate debt securities is growing. This is reflected in the demand during the Žalvaris bond placement, which was three times higher than the supply. We are pleased with this success, as the bond issuance will provide the company with the opportunity to choose from various funding options, not only from different banks, but also from different financing methods, which will help the company optimize its debt in the future,” said Vitoldas Sapožnikovas, Director of Žalvaris.
Šiaulių Bankas was the organizer of the public bond issue, while the law firm TGS Baltic acted as legal advisor and is also the certified adviser for the company on the First North market.
UAB Žalvaris, a part of Green Group, is one of Lithuania’s largest and long-established automotive and industrial waste management companies and the leader of this sector in the Baltic States. The company owns ten waste collection and management branches and serves over 4,000 customers throughout Lithuania. UAB Žalvaris employs 150 people, including 60 specialists in various fields and 11 employees providing environmental documentation, auditing, waste accounting and consulting services.
GreenGroup is a leading regional integrated recycling group and circular economy enabler, with over 20 years of activity. GreenGroup is a leading European market player in PET recycling and production of r-PET and polyester staple fibre and a key player in polyolefin recycling, electronics recycling, glass waste recycling and industrial waste management. In Lithuania, GreenGroup companies include the industrial waste management company Žalvaris and two plastic waste recycling companies: Ecso and GreenTech Baltic.
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:
Birutė Jocaitė-Šliurpienė
birute.jocaitesliurpiene@nasdaq.com
+370 61546123
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