Today, at 10:00 AM, the shares of AS APF Holdings (hereinafter - APF) began trading on the Nasdaq Riga Stock Exchange. The listing was initiated following the initial public offering (IPO) of APF, which concluded on November 3. The share price at the commencement of listing was €5.11. The shares are included in the First North list, and their trading symbol is "EGG."
During the APF IPO process, 107% of the investment target was reached, which amounted to €5,624,204. In total, 2,128 investors participated in the IPO, and a significant portion of the share issuance was also acquired by two Latvian pension funds. The total market capitalization of APF, meaning the total market value of all company shares, will be €29.3 million.
"The most significant achievement of APF IPO is that the investor community in Latvia and other Baltic countries has expressed their trust in the development story of APF, which we will start fulfilling today. Stock market listing is an important step as it provides our shareholders with much more accessible information and, critically, the liquidity of their investments, allowing them to freely buy and sell the shares they acquired in the IPO. Being a publicly traded company implies additional responsibility, but it also provides significant benefits for attracting and managing investments. I hope our example will also help others decide to go public," said Jurijs Adamovičs, CEO of AS APF Holdings.
As reported earlier, the goal of APF IPO was to attract investments for growth, significantly expanding the scale of operations, and increasing egg production by 60% by 2025, doubling the revenue from approximately €11 million in 2022 to as much as €25 million in 2025. With the investment from IPO investors and further bank financing, the plan is to build two more laying hen facilities in addition to the existing three and expand the production support infrastructure. This will allow increasing the annual egg production from 115 million to as much as 180 million and the number of laying hens to be raised to 665 thousand. In addition, APF plans to start egg processing, supplementing its production with new manufacturing equipment to create modern and healthy egg products.
Signet Bank served as the financial consultant and organizer of the IPO, while AS LHV Pank was the IPO share sales agent in Estonia. In legal matters, APF IPO was advised by the law firm Eversheds Sutherland Bitāns.
Jurijs Adamovičs founded AS APF Holdings in 2017 to take over and modernize a poultry factory based in Alūksne with a 60-year history. Currently, AS APF Holdings encompasses a group of companies engaged in poultry farming, chicken egg production and trade, as well as gas and organic fertilizer production related to poultry farming. The company group includes SIA Alūksnes putnu ferma (poultry farming and egg production), SIA APF Trading (wholesale trade of chicken eggs), SIA Oluksne (providing poultry farming and egg production services), SIA APF Energy (gas and organic fertilizer production), and SIA Preiļu putni (poultry farming and raising young poultry). Jurijs Adamovičs is the largest shareholder of AS APF Holdings.
Disclaimer: This announcement is unpaid marketing communication in accordance with the Prospectus Regulation and is not considered as investment advice or an offer. The information provided here includes statements about the public offering of AS "APF Holdings" shares. Each investment decision should be based on the prospectus approved by the Latvian Bank. The approved prospectus is available on the Latvian Bank's website (https://bank.lv/).