ELKO Group's Bonds Listed on the Nasdaq Baltic First North Market

Riga/Tallinn/Vilnius, Nasdaq Baltic Market, June 14, 2021 - Nasdaq (NDAQ)
announces that bonds issued by ELKO Group (ELKO Grupa AS), a Latvia-based
wholesaler of IT and consumer electronics products and solutions, have been
admitted to trading on the Nasdaq Baltic First North bond market by Nasdaq Riga
as of June 14, 2021. 

The size of the bond issue is EUR 20 million. The bonds have a coupon rate of
6% and a maturity of 5 years. The nominal value of one bond is EUR 1,000. 

The issue is the largest ever for ELKO. More than 80 investors from the Baltic
States, Germany, and Malta subscribed to the bonds - including banks, pension
plans, investment funds, insurance companies, and private investors. The Altum
Capital Fund, for which this was the first investment, also participated in the
transaction as an investor. 

"Demand for IT and consumer electronics has grown rapidly as a result of the
pandemic and ELKO ended last year with record-high financial indicators. The
bond issue has given us the working capital to respond adequately to market
demand while dealing with supply-chain disruption and rising logistics costs,"
says , the CEO of ELKO Group. "We are pleased with the success of the issue. It
showed that there is a lot of private capital in the region and funds are ready
to invest in stable companies with prospects for growth. Interest in bonds to
diversify the funding structure has deservedly grown. It is a great alternative
to bank financing products," adds Dinsdorfs. 

"ELKO started its growth story on the stock exchange in 2008. With this new
listing of bonds, ELKO demonstrates that even during a pandemic companies can
attract investments. I hope this example will inspire other Latvian companies
to make use of the Baltic capital market to accelerate their development,
increase their competitiveness and promote their export capacity," says Daiga
Auzina-Melalksne, the CEO of Nasdaq Riga and Head of the Nasdaq Baltic Market. 

The ELKO bond issue was jointly managed by the financial and investment company
Callidus Capital (as a financial consultant) and Signet Bank (as the issue
organizer). 

Signet Bank serves as the Certified Adviser for ELKO on the Nasdaq Baltic First
North market. First North is a multilateral trading facility (MTF) tailored to
support growing ambitious companies that want to raise capital and get the
visibility and credibility of being a public company. 

About ELKO
ELKO Group is one of the Baltic region's largest distributors of IT and
consumer electronics products and solutions. It represents 400 IT manufacturers
and provides a wide range of products and services to more than 10,000
retailers, local computer manufacturers, system integrators and enterprises in
various sectors in 11 countries in Europe. ELKO is headquartered in Riga,
Latvia. The Group's turnover in 2020 amounted to USD 2.2 billion (EUR 1.9
billion). For more information, please visit: www.elkogroup.com. 



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Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq
Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more:
nasdaqbaltic.com 

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