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International Internet Magazine. Baltic States news & analytics Thursday, 06.10.2022, 09:39

Ignitis share to cost EUR 22.5 to 28 at IPO

BC, Tallinn, 21.09.2020.Print version
Starting from September 21, Nasdaq Vilnius will run the Lithuanian state-owned energy group Ignitis Group's share auction as a part of its initial public offering (IPO), during which approximately 470.3 to 585.2 mln euros' worth of shares will be listed and the price range of a share is 22.5 to 28 euros.

The final price per share will be announced on or about October 2, 2020 and will not be higher than 28 euros for retail investors. The offered amount of shares is 20,901,503 or 27.8% of the company's share. The rest will remain in the possession of the state of Lithuania, it appears from the stock exchange notice.

Ignitis is listing the securities on the Vilnius and London stock exchanges. Swedbank has been selected as a joint global coordinator of Ignitis.

Both Baltic and international institutional investors can participate in the offer. The offer period starts at noon on September 21 and lasts until October 1.

At the beginning of September, the management board of Ignitis Group also approved the company's new dividend policy, which envisages a consistent increase in returns to shareholders in the coming years.

Under the new dividend policy of Ignitis Group, dividends of 85 mln euros will be proposed for the financial year 2020. For each subsequent financial year, dividends will be at least 3% higher than the amount paid for the previous financial year.

In 2020-2023, the company plans to invest up to 950 mln euros to increase green energy capacities to 1.6-1.8 gigawatts.

Ignitis Group is an energy company operating in Lithuania, Latvia, Estonia, Poland and Finland. The group owns two hydroelectric power plants in Lithuania, four wind farms in Lithuania and Estonia and a biomass plant in Lithuania.

Last year, the revenue of Ingnitis Group exceeded 1.25 bn euros, the group employs 4,000 people.

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