In its first public bond offering, the cooperative aims to raise up to EUR 8 million.
Private and institutional investors across the Baltics are invited to invest in the bonds, which offer a fixed annual rate of 7.5% with a maturity term of four years. The subscription period will run from 26 November to 9 December.
“As a leader in the agricultural sector, LATRAPS has demonstrated its resilience thanks to a strong infrastructure across Latvia and a stable global demand for grain. Our goal is not only to produce grain for local and international markets but also to create high value-added products. This is why we are initiating the development of the ASNS Ingredient pea protein isolate production facility this year,” said Roberts Strīpnieks, Chairman of the Management Board at LATRAPS.
The proceeds from LATRAPS bond offering will be invested in the development of the ASNS Ingredient project, the largest pea protein isolate production facility in Northern Europe, located in Latvia. Construction of the facility begins in December 2024.
During the public bond offering in Latvia, Lithuania, and Estonia, LATRAPS will offer to private and institutional investors 8,000 bonds, each with a nominal value of EUR 1000, an annual fixed interest rate of 7.5%, and a maturity of four years. The bonds will be on sale from November 26 until December 9. Following the bond issuance, LATRAPS will submit an application to Nasdaq Riga for the inclusion of the bonds in the Nasdaq Baltic First North alternative market.
Full details of the offering are available at: https://www.latraps.lv/en/services/forinvestors.
