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“We are pleased to welcome HansaMatrix to the Baltic Main Market, where new investors and existing shareholders can take part in the company’s growth story,” said Daiga Auziņa-Melalksne, Head of Nasdaq Baltic Exchange Services and Head of Nasdaq Riga.

HansaMatrix (former Hanzas Elektronika) is an innovator and integrated solution high-tech company, offering product design, industrialization and complete manufacturing services in data networking, internet of things, industrial and other high added value business segments. HansaMatrix opened its first manufacturing plant in June, 2001, at the moment it runs two manufacturing plants employing over 350 people.

„It is a proud and exciting moment for me, after founding this company over 15 years ago. Listing the company and attracting capital provide us additional visibility and broader possibilities to develop the company further. The capital raising process has given us invaluable feedback from investors and I look forward to working together with our new shareholders,” said Ilmārs Osmanis, CEO of HansaMatrix.

“Rules On Listing and Trading of Financial Instruments on the Markets Regulated by the Exchange except clause 5.4.2. which states that not later than the day on which the trading with shares starts, a sufficient free float is to be ensured, i.e., at least 25 percent of the shares of the category which the Issuer wants to list at the Exchange are in free float or the capitalisation of the shares on free float exceeds EUR 10 million. HansaMatrix does not reach the minimum free-float required by the rules, however, the bourse has a right taking into account the situation in the financial markets and other circumstances to set an exception to the requirements”, reports LETA.

HansaMatrix last year rose its turnover by 26% to EUR 13.47 mln, and the company’s profit was EUR 1.48 mln in contrast to EUR 1.94 mln loss in 2014.

In 2015 HansaMatrix attracted EUR 600,000 from FlyCap risk capital fund. The company now belongs to Macro Riga (82.79 %) and FlyCap Investment Fund I AIF (17.21%).