|
EQS-News: Eleving Group S.A.
/ Key word(s): IPO/Financing
Luxembourg/Riga, 17.04.2024 - Eleving Group, a pan-Baltic-headquartered, global multi-brand fintech company operating in the vehicle and consumer financing business, has mandated LHV Pank (Estonia) to act as the Lead Arranger for a potential initial public offering (IPO).
According to Modestas Sudnius, CEO of Eleving Group, LHV Pank will advise the company and its management on potential external equity-raising opportunities in the Baltics and Europe. The company aims to raise additional equity to facilitate further growth of the business, potentially resulting in new products and markets. The IPO arranger syndicate is expected to be finalized soon. Aalto Capital (Germany) will act as Financial Advisor to Eleving Group and its management. About Eleving Group Eleving Group has driven innovation in financial technology around the world since its foundation in Latvia in 2012. As of today, the group operates in 16 markets and 3 continents, encouraging financial inclusion and upward social mobility in underserved communities around the globe. Eleving Group has developed a multi-brand portfolio for its vehicle and consumer finance business lines, with around 2/3 of the portfolio comprising secured vehicle loans and mobility products, with Mogo as the leading brand, and around 1/3 of the portfolio including unsecured consumer finance products, with Kredo and Tigo as the segment’s flagship brands. Currently, 57% of the group's portfolio is located in Europe, 30% in Africa, and 13% in the rest of the world. The Group's historical customer base exceeds 500,000 customers worldwide, while the total volume of loans issued goes beyond EUR 1.6 billion. With headquarters in Latvia, Lithuania, and Estonia and a governance structure in Luxembourg, the Group ensures efficient and transparent business management, powered at the operational level by 2760 employees. For two consecutive years, the Group was listed among Europe’s 1000 fastest-growing companies published by the Financial Times in 2020 and 2021. The group closed 2023 with strong financial results—its adjusted EBITDA stood at EUR 77.2 million, revenue at EUR 191.1 million, and adjusted net profit after FX at EUR 26.3 million. Eleving Group’s net portfolio reached EUR 320.2 million. In 2023, Fitch, a leading credit rating agency, affirmed Eleving Group's B- rating with a stable outlook. For media inquiries Arturs Cakars, Group Chief Corporate Affairs Officer, arturs.cakars@eleving.com For investors Edgars Rauza, Investor Relations Manager, edgars.rauza@eleving.com IMPORTANT INFORMATION The information contained herein is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States of America, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or any other countries or otherwise in such circumstances in which the release, publication or distribution would be unlawful. The information contained herein does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction. Persons into whose possession this announcement may come are required to inform themselves of and observe all such restrictions. This announcement does not constitute an offer of securities for sale in the United States of America. No securities have been and will be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or under the applicable securities laws of any state of the United States of America and may not be offered or sold, directly or indirectly, within the United States of America or to, or for the account or benefit of, U.S. persons (as defined under Regulation S under the Securities Act) except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. This announcement does not constitute a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market (the "Prospectus Regulation") and does not constitute a public offer of securities in any member state of the European Economic Area (the "EEA"). This announcement does not constitute an offer of securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of any securities. Accordingly, this announcement is not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of this announcement as a financial promotion may only be distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as "Relevant Persons"). Any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this announcement or any of its contents.
17.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Eleving Group S.A. |
| 8-10 avenue de la Gare | |
| 1610 Luxembourg | |
| Luxemburg | |
| Internet: | www.eleving.com |
| ISIN: | XS2393240887 |
| WKN: | A3KXK8 |
| Listed: | Regulated Unofficial Market in Dusseldorf, Frankfurt, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; SIX |
| EQS News ID: | 1882131 |
| End of News | EQS News Service |
|
|
1882131 17.04.2024 CET/CEST
