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Excellent opportunity for investors!

AS DelfinGroup:
A company with robust growth and an annual dividend
yield of 8,3%

Dividend yield is based on last twelve months dividend payments and proposed dividend from Q1 2024 net profit intended to be paid on 14 June 2024. Calculation uses the offered share price of EUR 1.09.

AS DelfinGroup public offerings of shares owned by AS ALPPES Capital and SIA Curiosity Capital at a fixed price of EUR 1.09 per share is taking place from 20th of May until 3rd of June 2024.

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AS DelfinGroup growth indicators

Since the IPO, AS DelfinGroup's financial indicators show robust growth.

10.1 million EUR

Paid out in dividends to shareholders 

since IPO in October 2021

50.4 million EUR

Revenue

 

in FY2023

+110% Quarterly

EBITDA

Q1 2024 vs.

Q3 2021

+121%

Quarterly revenue

Q1 2024 vs Q3 2021

+151% Net

loan portfolio

growth yoy

Q1 2024 vs.Q3 2021

41%

annual revenue

CAGR

during 2021-2023

Source: AS DelfinGroup annual and quarterly reports 2021, 2022, 2023, 2024.

Available HERE.

Invest today!

In the course of the Offering, up to 8,985,000 Base Offer Shares with an option to increase the Offering by up to 3,000,000 Additional Offer Shares, to a maximum amount of up to 11,985,000 Offer Shares are being offered. The offerors of the shares are the largest shareholder of AS DelfinGroup AS ALPPES Capital and the third largest shareholder SIA Curiosity Capital, who offer a part of their shares of AS DelfinGroup. AS DelfinGroup shares are listed on the Nasdaq Baltic Main List.

Prospectuses of the public offerings are approved by Bank of Latvia. The process ir organized by LHV Bank and legal support ir provided by law firm Eversheds Sutherland Bitāns.

Should you have any inquiries regarding the share offerings, please reach out to our team at info@shareoffering.lv

Announcements and news

Bank of Latvia approves the public offerings

The Bank of Latvia has approved prospectuses submitted by two shareholders of AS DelfinGroup – AS ALPPES Capital and SIA Curiosity Capital – for the public offer to sell part of their AS DelfinGroup shares. Thus, investors in Latvia, Lithuania and Estonia will have the opportunity to purchase up to 8.985 million DelfinGroup shares with the option to increase the offer by up to 3 million more shares. The offer price is 1.09 euros per share. The subscription period will last from May 20 to June 3 inclusive.

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About the sellers and shareholding structure before the share offering

Shareholding structure

AS DELFINGROUP

MANAGEMENT

(1,40 %)

SIA EC FINANCE

(14,93 %)

AS ALPPES CAPITAL

(29,32 %)

SIA CURIOSITY CAPITAL

(12,16 %)

SIA AE CONSULTING

(8,21 %)

SIA LK INVESTMENTS

(4,85 %)

FREE FLOAT

(29,13 %)

AGRIS

EVERTOVSKIS

(100 %)

AIGARS

KESENFELDS

(100 %)

LINDA

KESENFELDE

(100 %)

AGRIS

EVERTOVSKIS

(100 %)

LINDA

KESENFELDE

(100 %)

About the sellers

AS ALPPES Capital is wholly owned by businessman and investor Aigars Kesenfelds, who has extensive international business experience in more than 30 countries. Aigars Kesenfelds has founded, helped to establish and invested in many successful companies in Latvia and abroad. According to AS ALPPES Capital publicly available 2023 financial report, the company worked with a profit of 16.77 million euros in 2023, the company's equity at the end of 2023 has reached 90.37 million euros. According to the publicly available management report of AS ALPPES Capital, the company is a major or significant shareholder in various companies and groups of companies that carry out economic activities in various sectors in more than 25 countries around the world. Altogrther, more than 5,000 employees work in these companies. AS ALPPES Capital owns 29.32% of AS DelfinGroup shares before the public offering.

SIA Curiosity Capital is wholly owned by Linda Kesenfelde, who has made several successful investments in various companies. SIA Curiosity Capital is currently a shareholder in companies of various industries. SIA Curiosity Capital has worked with a profit of 547 thousand euros in 2023 and the company's equity is over 4 million euros. SIA Curiosity Capital owns 12.16% of AS DelfinGroup shares before the public offering.

BUJ LV

Frequently asked questions

  • 1. What is a Public Offering?
    Public offering is a communication to persons in any form and by any means, presenting sufficient information on the terms of the offer and the securities to be offered, so as to enable an investor to decide to purchase or subscribe for those securities.  In this case, public offering is a process chosen by (1) AS ALPPES Capital and (2) SIA Curiosity Capital (offerors or selling shareholders) to sell part of AS DelfinGroup’s shares owned by them respectively.
  • 2. What is the price and how is it determined?
    The price is EUR 1.09 per share.  The price is determined by taking the last 3 months' volume weighted average AS DelfinGroup’s share price. In accordance with the information obtained from Nasdaq Riga the volume weighted average AS DelfinGroup’s share price from 1 February 2024 until 30 April 2024 (3 months) has been EUR 1.25. To incentivize investors to purchase offer shares, the offerors are providing a 12.8% discount from the average share price.
  • 3. Who is the offeror (selling shareholder) and how many Shares are offered?
    There are two selling shareholders. 1.AS ALPPES Capital has offered up to 5,395,000 Base Offer Shares with an option to increase the Offering by up to 2,400,000 Additional Offer Shares, to a maximum amount of up to 7,795,000 Offer Shares.  If all Offer Shares are sold, AS ALPPES Capital will own 12.14% of AS DelfinGroup shares. 2. SIA Curiosity Capital has offered up to 3,590,000 Base Offer Shares with an option to increase the Offering by up to 600,000 Additional Offer Shares, to a maximum amount of up to 4,190,000 Offer Shares.  If all Offer Shares are sold, SIA Curiosity Capital will own 2.93% of AS DelfinGroup shares. In the prospectuses prepared by the offerors, it is stipulated that the lead manager (LHV Bank) of the public offering may combine both offerings in one and place them on the Nasdaq stock exchange system as one.
  • 4. When can shares be bought?
    The term of the public offering is 15 calendar days. The offer period starts on 20 May 2024 at 10:00 and ends on 03 June 2024 at 15:30 (Riga time). NB! Purchase order collection deadline might differ depending on the investor’s chosen bank. Investors should contact their financial institution concerning the specific order collection deadline.
  • 5.Why are the existing shareholders of DelfinGroup selling their shares?
    The main reasons are: to increase the amount of shares in free-float and thus increase the share liquidity;  for existing shareholders to diversify their assets and investments. AS DelfinGroup will not receive any proceeds from the public offering. The offerors are covering all costs and expenses related to the public offering. The public offering is not subject to an underwriting agreement on a firm commitment basis. There are no material conflicts of interest pertaining to the public offering.
  • 6. Why are the shares being sold now?
    1. In accordance with AS DelfinGroup’s Dividend Policy (available: https://delfingroup.lv/storage/files/delfingroup-dividenzu-politika-eng-nr12pl10-3-2023.pdf) AS DelfinGroup’s Management Board prepares proposal to pay dividends five times a year to the General Meeting, if requirements regarding AS DelfinGroup’s financial performance as set forth in the Dividend Policy are fulfilled.  NB! The governing body of the company deciding on profit distribution and dividend payment, including the date of dividend payment, is the General Meeting. The General Meeting is not legally bound by the proposals of the Management Board and / or the Supervisory Board and may opt to pass a decision deviating from such proposals.   The historical breakdown of dividends distributed to shareholders of AS DelfinGroup *Where the number of shares of AS DelfinGroup has changed the information is adjusted to make it comparable 2. The business model of AS DelfinGroup has historically proven itself at different stages of the economic cycle; 3. AS DelfinGroup is a well-managed and steadily growing company; 4. The possibility to buy a larger volume of shares at a fixed price during the public offering period, due to low liquidity that may not be possible in regular stock exchange trading sessions.
  • 7. How can I subscribe for AS DelfinGroup shares offered by (1) AS ALPPES Capital and (2) SIA Curiosity Capital during the public offering?
    Read the prospectuses, decide how many shares to purchase and submit  purchase undertaking to your bank. After the offer period, the shares which will be allocated to you in the final share allocation process will be credited to your securities account.
  • 8. What are the risks of investing in shares?
    Investment in shares always entails risks. The risks applicable to investing in AS DelfinGroup shares are described in the prospectuses. Therefore, it is highly advisable to read the risk factors described therein in full detail together with the rest of the prospectuses. 1.Prospectus of AS ALPPES Capital approved by the Bank of Latvia 2. Prospectus of SIA Curiosity Capital approved by the Bank of Latvia
  • 1. What is the minimum investment amount in (1) SIA L24 Finance; (2) SIA EC finance public offerings of DelfinGroup’s shares?
    The minimum investment amount is EUR 1.09, for which an investor can submit to purchase one share.
  • 2. Will I receive all the shares I submit purchase undertakings for?
    In case the public offering is over purchased or partially or fully cancelled, you may not receive all or any of the shares for which you submitted purchase undertakings during the offer period. You will only have to pay for the shares that are allocated to you.
  • 3. When will I have to pay for the shares?
    After you submit your purchase undertaking, funds needed to fulfil the order in full (number of shares multiplied by share price) will be blocked in your account. The payment will be done after the allocation as in that moment it is known how many shares you will receive. If you have submitted to purchase more shares than you have been allocated, the surplus money amount will be released back to your bank account.
  • 4. Can I revise or cancel my subscription form for shares?
    During the public offering period you can cancel or revise your purchase order by changing the number of shares to which you purchase for.
  • 5. Where DelfinGroup shares are listed?
    AS DelfinGroup shares are listed on the Nasdaq Baltic Regulated Market.
  • 1.Will AS DelfinGroup pay dividends?
    AS DelfinGroup in accordance with its Dividend Policy proposes to make quarterly dividend payments, distributing up to 50% of quarterly profits to shareholders, if requirements regarding AS DelfinGroup’s financial performance as set forth in the Dividend Policy are fulfilled. In addition, once a year after the approval of the annual report, the company may opt to pay additional dividends (annual dividends). During the course of the financial year, the company plans to distribute dividends to shareholders amounting to at least 50% of its consolidated profits.  NB! The governing body of the company deciding on profit distribution and dividend payment, including the date of dividend payment, is the General Meeting. The Management Board prepares proposals for dividend allocation and distribution, which then is reviewed by the Supervisory Board and adopted at the General Meeting. The General Meeting is not legally bound by the proposals of the Management Board and / or the Supervisory Board and may opt to pass a decision deviating from such proposals.Please find AS DelfinGroup’s Dividend Policy here: DelfinGroup dividend policy.
  • 2. What are DelfinGroup’s planned financial targets for 2023, 2024, and 2025?
  • 3. How shareholders receive information about DelfinGroup’s performance?
    You can follow them by subscribing to their newsletter at the Nasdaq Baltic stock exchange: https://nasdaqbaltic.com/statistics/en/instrument/LV0000101806/news?date=2023-05-15 You can also subscribe to DelfinGroup news: www.DelfinGroup.lv
  • 1. Who oversees the financial markets?
    The Baltic securities market is supervised by the local financial supervisory authorities, whose purpose is to protect and promote the stability and reliability of the entire financial sector.  In Latvia: The Bank of Latvia - Latvijas Banka https://bank.lv/  In Estonia: The Financial Supervision and Resolution Authority - Finantsinspektsioon https://www.fi.ee/et In Lithuania: The Bank of Lithuania – Lietuvos Bankas https://www.lb.lt/ 
  • 2. What is responsible investing?
    Follow these five rules to invest responsibly: Acknowledge that higher return goes hand in hand with higher risk; Investing, like any other activity, requires knowledge, experience and in-depth research. Never invest in anything that you do not know or understand; One of the most important risk minimisation measures is diversification. Build your portfolio in a way to minimise your exposure to country- or industry-specific risks; Do not risk more than you can afford to lose; Responsible investment continues even after the purchase of securities. Follow the company's published information and reports, analyse changes in the markets and make informed decisions.
  • 3. Will AS ALPPES Capital and SIA Curiosity Capital have any restrictions on the sale of the remaining shares after the public offering?
    After the date of the end of the offering period AS ALPPES Capital and SIA Curiosity Capital, in accordance with the lock-up agreement concluded with the organiser of the public offering (LHV Bank), undertake without the prior written consent not to, directly or indirectly, sell, contract to sell, exercise any option to sell, or otherwise dispose of remaining AS DelfinGroup shares owned by them until February 28, 2026. If not all the Basic Offer Shares are sold during the public offering, AS ALPPES Capital and SIA Curiosity Capital have the right to continue to sell the Basic Offer Shares even during the lock-up period without the consent of LHV Bank. In addition to AS ALLPES Capital and SIA Curiosity Capital the following shareholders of AS DelfinGroup are also parties to the lock-up agreement: Linda Kesenfelde and SIA LK Investments. AS ALPPES Capital, SIA Curiosity Capital, Linda Kesenfelde and SIA LK Investments, upon receiving the consent of the organiser of the public offering (LHV Bank), may sell their shares of AS DelfinGroup during the lock-up period, provided that the proposed new owner of the locked-up shares has executed or has committed to execute a lock-up agreement on similar terms for the remaining term of the lock up period.

Advertisement. Approved prospectuses on the Public Offerings of AS “DelfinGroup” shares by (1) AS ALPPES Capital; (2) SIA Curiosity Capital are published on https://bank.lv/. Approval of the prospectuses shall not be considered as a proposal to purchase shares. Please consult an expert before investing, if necessary. Before investing in the Offer Shares, read the prospectuses carefully to understand the potential risks and rewards. Past performance is not indicative of future results.

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