Nasdaq Welcomes Modus Group to First North

Tallinn, Estonia, 2018-02-26 09:00 CET (GLOBE NEWSWIRE) --  

Vilnius/Riga/Tallinn, Nasdaq Baltic Market, February 26, 2018 – Nasdaq (NDAQ) announces that bonds issued by Modus Group have been admitted to trading on the Nasdaq Baltic First North bond market by Nasdaq Vilnius as of today, February 26, 2018. Modus Group (trading ticker: MDGB050020FA) is the third company this year whose bonds have been admitted to the Nasdaq Baltic First North alternative market.

The total nominal value of the Modus Group issue is EUR 4,999,900. Each bond has a nominal value of EUR 100 EUR. The annual interest rate is 5% with coupon payments twice a year. The bonds mature on May 4, 2020.

“We welcome Modus Group to Nasdaq’s First North alternative market and we are delighted that after a successful offering the company has chosen to list its bonds on the Baltic First North bond market. Listing will increase company’s profile in the capital markets,” said Saulius Malinauskas, President of Nasdaq Vilnius. “We see increased interest among growth companies this year to enter First North alternative market.”

“Our aim in offering the corporate bonds is to make them accessible to diverse investors – from experienced market players to investment newcomers. The securities will be available to both domestic and international investors, and that will increase the bonds’ liquidity,” said Giedrius Audickas, Chief Financial Officer at Modus Group, about the bonds’ listing on the exchange.

According to Mr. Audickas, Modus Group’s presence on the Nasdaq Baltic Market was a milestone in terms of increasing the company‘s visibility and helping to diversify its sources of financing. “That’s important for the company in the long run. Modus Group plans to continue raising funds with alternative market instruments and to stay visible among investors – all the more so since the Nasdaq Group is one of the largest stock exchanges in the world,” he said.

Modus Group has appointed the law firm Sorainen as its Certified Adviser. Sorainen has been granted the status of a Certified Adviser on the First North market in Lithuania by Nasdaq Vilnius as of February 15, 2018. Certified Advisers help guide companies through the process of joining the alternative market and advise them on ongoing compliance with First North requirements.

“Sorainen has been advising First North market participants in Estonia for over ten years. Our clients’ success stories show that the First North market is a valuable vehicle that allows growing companies to access capital markets and increase their visibility. We also see increasing interest in the opportunities offered by the First North market among companies operating in Lithuania. Becoming a certified adviser in Lithuania enables us not only to further contribute to our clients’ success, but also to be part of the economic growth of the entire region,” said Augustas Klezys, a partner at Sorainen.

About Modus Group:

Modus Group is an international group of companies currently active in Lithuania, Latvia, Estonia, Belarus, Poland and Spain, which operate in four main business areas: renewable energy, mobility services (including the CityBee car sharing service and UniPark smart parking solutions), real estate, and auto sales and service representing 18 car brands.

For more information, see http://www.modusgroup.lt/en/.

About Sorainen:

Sorainen is a fully integrated law firm with offices in Estonia, Latvia, Lithuania, and Belarus. Its core purpose is increasing prosperity in the Baltic States and Belarus by helping clients succeed in business.

With 33 partners in the region and more than 200 lawyers and tax specialists, Sorainen has the resources to support clients in even the most complicated transactions, disputes, and legal tasks. The firm works under a single ISO 9001-certified quality management system and uses state-of-the-art technology to share experience and know-how among offices, teams and sector groups, with the aim of always ensuring high efficiency and quality work.

For more information, see http://www.sorainen.com.

About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to 3,900 total listings with a market value of $13 trillion. To learn more, visit: business.nasdaq.com.

Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn, Nasdaq Vilnius, Nasdaq Clearing and Nasdaq Broker Services are respectively brand names for the regulated markets of Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd., Nasdaq Iceland hf., Nasdaq Riga, AS, Nasdaq Stockholm AB, Nasdaq Tallinn AS, AB Nasdaq Vilnius, Nasdaq Clearing AB, Nasdaq Broker Services AB. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm.

Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Learn more at nasdaqbaltic.com.

Nasdaq Baltic
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Nasdaq Baltic is a common name for exchanges, regulated markets, alternative markets First North operated by Nasdaq companies in the Baltic states, i.e. Nasdaq Tallinn AS, Nasdaq Riga AS and AB Nasdaq Vilnius.