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Thursday, 28.03.2024, 23:41
Latvian Madara Cosmetics company plans to start listing its shares on bourse this year
Madara Cosmetics’ shares will be listed with a goal to ensure resources for continuing the company’s development, especially in foreign markets.
"The company in 2016 achieved a EUR 5.5 mln turnover and in the future sees a potential to continue to the development pace at about 30 percent a year. The company plans to attract the necessary capital by issuing shares making the initial public offering, aiming the offering to the existing customers and private investors who would like to participate in the company’s further development and taking Latvia’s name out into the world," the company said in a press statement.
As reported, in 2015 Madara Cosmetics posted EUR 3.91 mln in sales, and the company's profit was EUR 489,018, up 19% from 2014.
Founded in 2006, Madara Cosmetics has several shareholders, mostly Latvian individuals.