Ignitis Group, a leading utility and renewable energy company in the Baltic region, announces that today marks the company’s first day of trading on the Nasdaq Vilnius and the London Stock Exchange plc.
Following a regional retail investor subscription period and an international institutional book-building process, the company’s 20,000,000 shares will trade on the Main Trading List of Nasdaq Vilnius under the symbol “IGN1L”, and the global depositary receipts (GDR) will trade on the Main Market of the London Stock Exchange plc under the symbol “IGN”. The offer price was set at EUR 22.5 per share.
The process raised EUR 450 million, making it the largest IPO in the Baltic countries, with strong and well-diversified global demand from the institutional tranche, from both international and local asset managers, including Nordic, Continental European and other global institutional and retail investors.
The prospectus, which was approved by the Bank of Lithuania, can be found on the company’s website at old.ignitisgrupe.lt/ipo.
Darius Maikštėnas, CEO and Chairman of the Management Board said:
“Today marks a pivotal moment for Ignitis Group. Together with our new individual and institutional shareholders in the Baltics and around the world, we will begin our journey as a listed company, bolstering our long-term green energy strategy.
With the support of the Management and Supervisory Boards, we intend to work in the interests of all of our shareholders, while continuing to play our important role for the European and Baltic energy markets, which will create long-term value to benefit all shareholders. Today’s milestone reflects our ambition and commitment to delivering a greener and cleaner future for everyone.”
Darius Daubaras, Chairman of Ignitis Group Supervisory Board said:
“The start of trading on the Nasdaq Vilnius marks the completion of the Baltic’s largest IPO and the beginning of an important new chapter for us all at Ignitis Group, and of course for our new investors.
The demand from individual investors and from such diversified global institutional investors, reflects investor confidence in our long-term strategy and our growth story. The quality of our existing portfolio, strong governance, proven long-term financial performance profitability, combine with the rise in demand for renewables, mean we are uniquely positioned in the region to continue to capture value across our expanding portfolio for the long-term.”
Vilius Šapoka, Minister of Finance of the Republic of Lithuania said:
“Today is an important day for Ignitis Group, but also for Lithuania and our neighbours here in the Baltics. Our region is growing economically, steadily emerging as exemplary for business and investment, from an economic and governance perspective. Ignitis Group's IPO is a major step forward in the development and international recognition of our capital markets in Lithuania and the wider Baltic region.
This growth represents the resilience of the Baltics, our ambition for sustainable growth and adherence to standards of international governance, modelled on Nordic economies. Today’s listing has equipped Ignitis Group with the extra power it needed to drive future growth in Lithuania and the region, and I look forward to what the future holds.“