After the implementation of this public offering, over EUR 22 million has been received. That was one of major IPOs in the Baltic states. Besides, during this process, for the first time in the Baltic States, the strategic investor (Enterprise Investors) partly recouped its investments by implementing the IPO.
TGS Baltic Partners Vidmantas Drizga and Agnius Pilipavičius, Senior Associates Mantas Gofmanas and Irma Juškauskaitė, also Estonian colleagues Partner Marko Kairjak and Associate Elina Varendi were advisors to the joint bookrunners in this process on the issues of the Lithuanian and Estonian law, who structured the transaction, drafted the prospectus of the company, as well as all other documents in connection with the project, represented the company in the Bank of Lithuania, the Estonian Financial Supervision Authority, Nasdaq CSD, SE, also in AB Nasdaq Vilnius and performed all other necessary actions in connection with public offering of the shares and their admission to trading on regulated markets.
Novaturas is the largest tour operator in the Baltic States, having established itself in the market since 1999. Among its products, the company offers organised summer and winter vacation packages and roundtrips by bus and by plane to over 30 travel directions globally. In 2017 Novaturas group revenue reached EUR 141 million, EBITDA amounted to 10.6 million and the net profit was almost EUR 8.2 million.