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"In this case our role was that of an icebreaker and pioneer who breaks the ice and shows the way. When other companies are ready I cannot estimate but, undoubtedly, we set an example and we'll open the market for others. It is taking the company and the whole corporate governance and transparency into another level as markets are finally starting believing in state-capital companies," Maikstenas told BNS on Wednesday.

In his words, the almost 0.5 billion euros the company attracted during its IPO have already reached its accounts and the money will now be successfully used for investment. Ignitis Grupe has enough funds right now and has no plans to issue new bonds any time soon, Maikstenas said.

Ignitis Grupe saw its share price go down to 22.05 euros during the first trading hour on the Nasdaq Vilnius Stock Exchange, with shares worth 1.6 million euros changing hands.

The group's IPO share price stood at 22.5 euros and it issued 20 million shares making 26.9% of its capital.