Novaturas sets issue price at €10.5

WSE-bound Lithuanian tour operator Novaturas set the issue price in its IPO at €10.5 or PLN 44.13 apiece and will offer 27 percent stake. Initially, the company set the maximum price at €13.5 and 50 percent stake with an option to sell another 16 percent if the investor's interest was sufficient. This would the company’s total capitalization at €82 million. Novaturas expects to debut around March 21 and will be dual listed on the Vilnius Nasdaq bourse. “I am very pleased that Novaturas will soon debut in Warsaw and Vilnius. This is a great success, it is the first significant public offer of shares in Lithuania since 2010. At the same time, this is the first IPO offered to investors on three markets, with quotations in Warsaw and Vilnius. We conducted the transaction with a rather tense situation on local and international capital markets. Thanks to our debut, the company will become an even more reliable partner for our clients as well as business and financial partners. We treat our debut as the beginning of long-term cooperation with local and foreign investors. I am convinced that thanks to our good achievements and solid communication with the market, we will win more investors in the future who will want to participate in our further development,” said Novaturas CEO Linas Aldonis.