Vilnius/Riga/Tallinn, Nasdaq Baltic Market, May 14, 2025 – Nasdaq (NDAQ) announces that starting May 14 this year, Nasdaq Vilnius Stock Exchange will include bonds issued by UAB Vanagas Asset Management for trading on the Nasdaq Baltic First North market.
Vanagas Asset Management raised €3.4 million through a public bond offering in Lithuania, Latvia, and Estonia. Each bond has a nominal value of €1,000, with an annual interest rate of 10%, paid semi-annually. The bond issue has a duration of 2.5 years, with a maturity date of October 29, 2027.
The company's bonds were purchased by 334 investors, and demand exceeded supply, so considering the planned expansion, the issuer took the opportunity to increase the issue size from €3 million to €3.4 million. The bonds were subscribed by 145 investors from Lithuania, 134 from Estonia, and 55 from Latvia.
"We welcome Vanagas Asset Management to the Nasdaq Baltic First North market! It's great to see real estate companies increasingly utilizing the public capital market to implement their growth strategies," says Gediminas Varnas, President of Nasdaq Vilnius.
"The first step into capital markets is a significant stage for our group. We are pleased that even under challenging market conditions, we received strong confidence from institutional investors and interest from private investors. This is a clear signal that we are on the right path in strengthening the group's position and expanding our real estate project portfolio," says Mykolas Navickas, CFO of Vanagas Group and Vanagas Asset Management.
The funds raised by UAB Vanagas Asset Management will be allocated to finance real estate development and expansion.
The organizer of the public bond issue was Orion Securities, and the law firm TGS Baltic in Lithuania acted as legal advisor, which is also the company's certified advisor on the First North market.
Vanagas Asset Management is an investment real estate holding company belonging to the broader Vanagas Group of companies. The main activity is investments in selected, clearly defined, and relatively low-risk opportunities, including funds and project-based SPV companies engaged in real estate development and long-term real estate leasing.
The Nasdaq First North market is designed to help smaller growing companies looking to attract capital and secure the visibility and credibility characteristic of public companies. For investors, First North provides an opportunity to invest in companies that are at an earlier growth stage.
Nasdaq Baltic provides joint offerings of Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius stock exchanges, as well as Nasdaq CSD. More information can be found here: nasdaqbaltic.com
Nasdaq (NDAQ) is a global technology company providing services to capital markets and other economic sectors. Our broad range of data, analytics, software, and service offerings enables clients to reliably optimize and implement their business visions. To learn more about the company, its technology solutions, and career opportunities, visit us on LinkedIn, X, or nasdaq.com.
Media contacts:
Eglė Juškaitė
Marketing and Communications Manager
Nasdaq Vilnius
egle.juskaite@nasdaq.com
+370 6181 7811