Aluksnes Putnu Ferma installs its own solar park


SIA Aluksnes Putnu Ferma, a company of the JSC APF Holdings (hereinafter - APF) group of companies, has started the installation of its own solar park. The park is currently undergoing installation works and will have a capacity of 250 kWp when put into operation, which will be provided by 384 solar panels. The total investment in the solar park is more than €240,000.    

The solar park will provide electricity for all the existing chicken houses (coops) at Aluksnes Putnu Ferma during the summer months, and will cover 25% of the company's total energy consumption. The project is being implemented by the energy company Ignitis Latvija.    

"APF Holdings is currently carrying out an initial public offering and I think having our own solar park is an additional argument for investors to get involved in the future growth of our company. Renewable energy is important to us not only to reduce farm costs, but also because we are building APF into a fully circular economy company - one that generates its own energy, recycles waste from the production process and cares for animal welfare. Sustainability is and will be an increasingly important factor for egg buyers not only in Latvia, but also in our export markets in Europe, and producing our own energy is part of our ESG strategy, or environment social and corporate governance strategy," says Jurijs Adamovics, chairman of the board of JSC APF Holdings.    

It is planned that the solar park will be put into operation at the end of this year.    

There is ongoing Initial Public Offering (IPO) of APF shares that will last until October 30. In total, 1,027,930 new shares will be offered for investments with the rights to increase this number with 103,000 additional shares, thus, the overall number of shares offered is 1,130,930.    

The goal of IPO is to raise EUR 7 million. According to IPO, APF plans to significantly expand its operations and by 2025 increase egg production by 60 percent and more than double its revenue from about EUR 11 million in 2022 up to EUR 25 million in 2025. With the help of IPO investors and further financing from the banks, APF plans to build two more hen houses in the addition to the current three and expand the capacity of the production support infrastructure. This will allow an increase in egg production from 115 million per year to 180 million per year and an increase in the number of laying hens to 665,000. In addition, APF plans to start egg processing with new equipment in order to create modern and healthy egg products.    

APF is being advised by Latvia’s leading investment bank Signet Bank on financial matters in connection with the planned IPO, while the sales agent in Estonia is JSC LHV Pank. The company is advised by Eversheds Sutherland Bitans on legal matters. Listing of APF shares on Nasdaq alternative market First North is planned on November 3 or shortly after that date.  JSC APF Holdings was founded in 2017 by Jurijs Adamovics to take over and modernize a 60-year-old poultry facility based in Aluksne. Today, JSC APF Holdings comprises a group of companies involved in poultry farming, chicken egg production and marketing, as well as production of gas and organic fertilizers as part of its poultry business. The group is made up of SIA Aluksnes Putnu Ferma (poultry farming and egg production), SIA APF Trading (wholesale trade in chicken eggs), SIA Oluksne (poultry farming and egg production services), SIA APF Energy (production of gas and organic fertilizers), and SIA Preilu Putni (poultry farming, rearing farm). Jurijs Adamovics is the largest shareholder in APF Holdings.  

Disclaimer: This announcement constitutes unpaid marketing communication under the Prospectus Regulation and does not constitute investment advice or offer. The information contained herein contains general forward-looking statements about AS APF Holdings’ intention to make an initial public offering of its shares. Each investment decision should be made on the basis of a Prospectus approved by the Bank of Latvia. The approved Prospectus is published on the website of the Bank of Latvia (