Virši fuel company names date for IPO

The Latvian Financial and Capital Market Commission (FKTK) has approved the fuel and alternative energy trader Virši's (AS Virši-A and related group companies) prospectus for an initial public offering (IPO) that will take place from 25 October to 5 November of this year.

Retail investors from all of the Baltic states will have an opportunity to subscribe for the shares.

The company will offer up to 1,509,121 shares with an over-allotment option for an additional 226,368 shares (and the total number of shares would then reach up to 1,735,489). The price per one share is 4.49 euros. The minimum investment is one share.

“Our company is characterised by 26 years of experience in the industry, innovative solutions and ambitious future growth plans, which we also intend to implement thanks to the capital raised on the stock exchange. Virši financial results of recent years demonstrate convincing growth in both the company’s profitability and market share growth. Our goal is to continue to implement the company’s strategic plan to become a market leader in the next 3 to 5 years," said Jānis Vība, Virši Chairman of the Board.

It is planned that by purchasing at least 100 shares, an investor will receive a 7 cent discount on each litre of fuel, a 30% discount on snacks and coffee, as well as car care products, refillable windshield fluid and car wash services. 

You can find out more about the Virši IPO in the prospectus here: https://www.virsi.lv/for-investors 

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