Notification on material event
Demand for shares during the GRIGISKES AB secondary public offering exceeded supply
Vilnius, Lithuania, 2013-05-27 10:38 CEST --
Vilnius, Lithuania, 2013-05-27 10:38 CEST (GLOBE NEWSWIRE) -- During the secondary public offering of newly issued GRIGISKES AB shares investors have submitted subscriptions for significantly greater amount of shares than was offered – oversubscription is approximately equal to 2.8. Investors were offered to acquire up to 5,700,000 newly issued ordinary registered shares, which account for approximately 8.7% of the company‘s increased share capital. Shares were offered at the price of 0.51 EUR (1.76 LTL).
Applications for acquiring GRIGISKES AB newly issued shares were submitted on May 15-24. Local retail investors and institutional investors of the Baltic region have actively participated in the offering. It is planned that the exact allocation between current shareholders, new retail and institutional investors will be confirmed on 30 May. On the same day the newly issued shares will be transferred to investors. Secondary public offering is organized by “Orion Securities”.
„Even though in recent years the Baltic securities market has not been very active, I think this case is an excellent example that additional capital can also be successfully attracted in the local markets“ – says Alius Jakubėlis, CEO of “Orion Securities“.
About “Orion Securities“
Orion Securities Group is the largest non-banking financial group in Lithuania providing intermediation services in selling securities as well as corporate finance, private banking, and financial management services to both private individuals and legal entities.
About GRIGISKES AB
The group of GRIGISKES AB is manufacturing toilet paper, paper towels and napkins, testliner, fluting, corrugated cardboard and related products as well as timber products – hardboards, sawn timber and related products. The Group of GRIGISKES AB includes the following main subsidiaries: Klaipedos kartonas AB, Baltwood UAB, Mena Pak PAT, Klaipeda Recycling UAB.
President of GRIGISKES AB
(+370-5) 243 58 01