Announcement on the results of MADARA Cosmetics, AS public share auction
The subscription period for MADARA Cosmetics, AS shares ended on November 3, 2017. Total demand represented 255% of the offer base of 482,220 shares at a fixed price of EUR 6.25 per share. The over-allotment (greenshoe) option of 48,222 shares will therefore be exercised, bringing the total issue of new shares to 530,442. The results of the auction are summarized in the table:
|
Company |
MADARA Cosmetics, AS |
|
Share ISIN code |
LV0000101624 |
|
Auction period |
16.10.2017 – 03.11.2017 |
|
Settlement date |
09.11.2017 |
|
First trading day on Nasdaq Riga First North |
10.11.2017 |
|
Number of shares auctioned |
530 442 (480 220 +10% over-allotment option) |
|
Number of shares asked |
1 228 037 |
|
Number of shares sold |
530 442 |
|
Auction price (EUR) |
6.25 |
From an allocation perspective, employees of MADARA Cosmetics, AS received full allocation for their demand, while 88% of retail investors (by number) also had their subscriptions fully satisfied. This was achieved by democratically allocating a flat amount of 500 shares (EUR 3 125) for every investor in the retail tranche who submitted orders exceeding 500 shares. In all, the retail offering had more than 700 orders submitted, with allocations constituting around 26% of the offer base.
The balance went to various institutional and strategic investors.
Nasdaq Baltic
Transaction Services
+371 67 212 431
www.nasdaqbaltic.com
Nasdaq Baltic Exchange is a common name for exchanges, regulated markets, alternative markets First North operated by Nasdaq companies in the Baltic states, i.e. Nasdaq Tallinn AS, Nasdaq Riga AS and AB Nasdaq Vilnius.
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