Frankfurt/Main, October 11, 2024
Eleving Group S.A., a Riga-based micro lender for used cars and eMobility with focus on the Baltics, Eastern Europe and parts of emerging Africa has successfully launched its IPO in Frankfurt’s Prime Standard. Despite the current reservation among investors towards SmallCap companies, 15,882,353 new shares from a capital increase were successfully placed with institutional and retail investors throughout Europe. Moreover, the over-allotment option (“Greenshoe”) was also picked up by market participants on the back of a healthy oversubscription. The issue was priced mid offer range at EUR 1.70 per share. Bankhaus Scheich acted as sales agent and orderbook-manager for Deutsche Börse’s subscription facility DirectPlace. First day of trading will be October 16, 2024 in the Regulated Market of the Frankfurt Stock Exchange with Bankhaus Scheich as specialist as well as NASDAQ Riga. The net proceeds of roughly EUR 27mln will enable Eleving to make use of lucrative opportunities in its emerging target markets as well as opening up new countries to its products.