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Latvenergo repeatedly receives the award for Best Investor Relations on the Bond Market
Latvenergo AS has for the second time received the award for the best investor relations among all bond issuers on the Nasdaq Baltic regulated markets in the Baltic countries. This award confirms the value of responsible attitude even in difficult economic conditions.
Riga, 2021-02-03 11:21 CET --
For customers of Latvenergo, this means that the company has made determined efforts to ensure transparent and best relations with a wide range of customers – there is benefit directly for those who use the Group’s services in their households and businesses and, more broadly, for society, as the Group invests in its own and environmental development. This significant award confirms good corporate governance, well-thought-out investor relations, and responsible and successful business of Latvenergo Group.
When granting the award for the best investor relations, the stock exchange has especially appreciated the sustainability reports prepared by Latvenergo Group, its informative and investor-friendly website, as well as timely disclosure of information. Furthermore Latvenergo is a commercially successful company and has securely and stably guaranteed electricity to its customers throughout the Baltics over the past year.
Guntars Baļčūns, Chairman of the Management Board of Latvenergo AS: “Sir Fred Hoyle, a British astronomer, once said: “Space isn’t remote at all. It’s only an hour’s drive away if your car could go straight upwards.” This story is about the ability and courage to look at things and processes from a different, unusual angle. Latvenergo’s decision to issue bonds has motivated us to continuously improve corporate governance and strive to increase the value of the company. For a company to be listed means the opportunity to attract financing and to go straight upwards!”
“We are proud of Latvenergo achievements in the category ‘Best Investor Relations on the Bond Market’, especially noting the quality of the company's sustainability report and definition of sustainability goals, thus becoming one of the leaders in the region in this area,” says Daiga Auziņa-Melalksne, the CEO of Nasdaq Riga and Head of Nasdaq Baltic Exchanges. The award is presented biennially as part of Nasdaq Baltic Awards, which celebrate the outstanding achievements of Nasdaq Baltic listed companies in the areas of transparency, sound corporate governance and investor relations. A total of six awards are presented to listed companies, stock exchange members, media and other stakeholders. Additional information about Nasdaq Market Awards is available here.
Previously Latvenergo has received the award in 2017, when such an award was first presented to bond issuers.
Latvenergo AS started issuing bonds at the end of 2012, issuing green bonds for the first time in 2015. Issue of green bonds confirm the Group’s active efforts towards sustainability. The generation portfolio of Latvenergo AS is one of the greenest in Europe with a significantly lower CO2 emissions than the sector’s average.
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Latvenergo Group is one of the leading energy suppliers in the Baltics operating in electricity and thermal energy generation and trade, natural gas trade and electricity distribution services. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody's has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.
Latvenergo Group is comprised of the parent company Latvenergo AS (generation and trade of electricity and thermal energy, trade of natural gas) and subsidiaries - Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas in Lithuania), Enerģijas publiskais tirgotājs AS (administration of mandatory electricity procurement process) and Liepājas enerģija SIA (generation and trade of thermal energy in Liepaja, electricity generation). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.