Nasdaq (NDAQ) announces that bonds issued by the building maintenance and engineering solutions company Civinity AB have been admitted to trading on the Nasdaq Baltic First North Market by Nasdaq Vilnius as of today, October 19.
The company held an offering of the bonds for private and institutional investors in Baltic markets from October 1 to 13, with a total of 65 investors acquiring the debt securities. The size of the bond issue is EUR 8 million. The bonds have a nominal value of EUR 1,000 each and an annual interest rate of 5%. Their date of maturity is December 4, 2023. The funds raised in the bond issue will be used to implement projects envisaged in Civinity’s operating strategy and will enable further investments in measures to digitize and automate key business processes, develop new digital products for customers and enhance their experience.
“We welcome Civinity as a new issuer on the Nasdaq Baltic securities market. We wish the company successful collaboration and extend hopes that this bond issue will open the way to further activity on the public capital market,” says Saulius Malinauskas, the President of the Nasdaq Vilnius stock exchange.
“We see this rapidly distributed bond issue as a sign of investors’ trust and support amid implementation of Civinity’s long-term strategy with the declared goal of becoming a market leader and transforming the building maintenance and engineering solutions market in the Baltics and beyond,” says Deividas Jacka, a shareholder of the Civinity group and its CEO.
The company’s Certified Advisor on the First North market is the law firm TGS Baltic in representation of Advokaadibüroo TGS Baltic AS. The lead manager and distributor of the bond issue is Šiaulių Bankas.
About First North
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.
Civinity is one of the largest building maintenance and engineering solutions groups in the Baltics. The Civinity group unites more than 20 companies that oversee 10 million square meters of residential and commercial buildings and have installed several thousand engineering systems in a variety of European cities. The company provides a full range of services to customers under three main brands: Civinity Namai/Mājas, Civinity Solutions, and Civinity Engineering. The Civinity team includes 1,500 employees in Lithuania, Latvia and the United Kingdom. In 2020, Civinity’s revenue amounted to EUR 51.84 million, with EBITDA of EUR 3.87 million.
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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