airBaltic appoints financial advisors ahead of planned IPO

Latvian airline airBaltic announced another step September 26 in its long-lasting journey towards an Initial Public Offering (IPO) of its shares on the open market.

"Latvian national airline airBaltic announces that it has appointed STJ Advisors and Superia as its joint independent financial advisors  for the contemplated initial public offering (IPO) of the company’s shares," it said in a press release.

Financial advisors are typically hired to review and supervise the IPO process, including sounding out and attracting potential investors.

Martin Gauss, President and CEO of airBaltic said: “Assessing the potential road to IPO and taking into account both the cooperation offer and experience in the region, we are delighted to select STJ Advisors and Superia as our independent IPO advisors. The potential listing on the stock exchange is a significant step in the process of achieving a new level in airBaltic’s development.”

London-based STJ Advisors is an independent international Equity Capital Markets advisory firm and was an advisor in the 2018 privatization of the Port of Tallinn in Estonia, while Superia is a Baltic financial advisory services firm with offices in Rīga, Tallinn, and Vilnius.

airBaltic operates more than 100 routes from Riga, Tallinn, Vilnius and Tampere. Established in 1995, its primary shareholder is the Latvian state, which holds 97.97% of the stock, while the rest of the shareholders hold 2.03%. 


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