TGS Baltic Latvia and Estonia provided legal support to joint global co-ordinators and joint bookrunners with respect to IPO of 20,000,000 shares of AB “Ignitis grupė”, as part of which EUR 450 million were raised.

29.10.2020 TGS Baltic Latvia and Estonia provided legal support to joint global co-ordinators and joint bookrunners with respect to IPO of 20,000,000 shares of AB “Ignitis grupė”, as part of which EUR 450 million were raised.

TGS Baltic Latvia and Estonia provided legal support to joint global co-ordinators and joint bookrunners with respect to the initial public offering (IPO) of 20,000,000 shares of AB “Ignitis grupė”, a leading utility and renewable energy company in the Baltics, as part of which the company raised capital in the amount of 450 million euros.

In 2020, TGS Baltic advised joint global co-ordinators and joint bookrunners Morgan Stanley & Co. International plc, J.P. Morgan Securities plc, UBS Europe SE, Swedbank AB (in cooperation with Kepler Cheuvreux S.A.) and BofA Securities Europe SA.

AB “Ignitis grupė”, an international energy company and one of the largest energy groups in the Baltics, from 21 September 2020 to 1 October 2020 offered in a public offering the company's ordinary shares and global depository receipts at a price range from EUR 22.50 to EUR 28.00. On 2 October 2020, the company announced that the final price per share or a receipt representing it is EUR 22.50, and therefore the company's gross proceeds from its IPO of 20,000,000 (twenty million) ordinary shares are EUR 450 million. On 7 October 2020, the shares of AB “Ignitis grupė” were listed on the Nasdaq Vilnius Stock Exchange and London Stock Exchange plc.

TGS Baltic team:

TGS Baltic Latvia partners Andra Rubene, Linda Štrause, Nauris Grigals, senior associate Raivis Znotiņš, associates Reinis Grunte, Toms Tīdemanis, Rūdolfs Vilsons and legal assistant Anete Neretniece assisted joint bookrunners with respect to Latvia, and TGS Baltic Estonia managing partner Sander Kärson and senior associate Olger Kaelep assisted the same with respect to Estonia.

AB “Ignitis grupė”, together with its, directly and indirectly, controlled subsidiaries, is a leading utility and renewable energy group in the Baltics. The Group’s core business is focused on operating electricity and gas distribution networks, and managing and developing its green generation portfolio. Group companies produce, distribute, and supply energy, as well as provide other energy services. The Group also manages strategically important flexible generation assets and provides customers and solutions services, such as the supply of electricity and gas, solar, e-mobility, improved energy efficiency, and innovative energy solutions for households and businesses. The Group operates in its home markets – Lithuania, Estonia, Latvia, Poland, and Finland – and is evaluating opportunities in other countries on the energy transition path. The Group’s four principal operating segments in the field of energy are: networks, green generation: flexible generation, and customers and solutions: http://www.ignitisgrupe.lt

TGS Baltic is a full-service business law firm in Latvia, Estonia, and Lithuania employing 150+ lawyers across the Baltics. http://tgsbaltic.com/

For more information, please refer to https://www.ignitisgrupe.lt/ipo