EGG will be stock symbol of APF Holdings; IPO to close on Monday

JSC APF Holdings (hereinafter referred to as APF), currently undergoing an
Initial Public Offering (IPO), will be listed on the stock exchange under the
stock symbol EGG. The symbol has been chosen to send a clear message to
investors about the company's core business - egg production. APF's IPO will
close on Monday, October 30, and investors are invited to submit subscription
orders for the shares to their online banks by 12:00 in order to allow the
banks to process them in time.. 

"The new symbol EGG is a departure from the usual stock exchange practice of
using the letters of company names in stock symbols, but APF's approach has
several precedents on foreign stock exchanges. With our approach, we want to
make it clear that our company creates practical value and that by investing in
our shares, investors acquire a stake in a strong food company. Perhaps our
approach will start a new tradition on the stock market," says Jurijs
Adamovics, Chairman of the Board of JSC APF Holdings. 

APF is a group of companies comprising one of the largest poultry farming and
egg producing enterprises in Latvia - JSC Aluksnes putnu ferma - and poultry
farming and chicken breeding company JSC Preilu putni. 

As reported earlier, APF's Initial Public Offering (IPO) is currently underway
and will run until October 30. A total of 1 027 930 new shares are being
offered for IPO investment, with an option to increase their number by an
additional 103 000 shares in case of strong demand, bringing the total number
of shares on offer to 1 130 930. 

The IPO investment target is EUR 7 million. After the IPO, APF intends to
significantly expand its scale of operations and increase egg production by 60
percent by 2025 and more than double its revenue, from around EUR 11 million in
2022 to EUR 25 million in 2025. With the contribution of IPO investors and
further bank financing, the plan is to build two more laying hen houses in
addition to the existing three and to expand the capacity of auxiliary
infrastructure. This will allow to increase egg output from 115 million per
year to 180 million per year and to increase the number of laying hens to
665,000. In addition, APF plans to launch an egg processing operation, adding
new production equipment to its existing facilities in order to create modern
and healthy egg products. 

Signet Bank is the financial advisor and arranger of APF's IPO, while JSC LHV
Pank is the IPO's sales agent in Estonia. Eversheds Sutherland Bitans law firm
is advising APF on the IPO's legal matters. The listing of APF shares on the
Nasdaq alternative market First North is expected to start on November 3 of
this year or shortly after that date. 

JSC APF Holdings was founded in 2017 by Jurijs Adamovics in order to take over
and modernize a 60-year-old poultry factory based in Aluksne. Today, JSC APF
Holdings comprises a group of companies involved in poultry farming, production
and marketing of chicken eggs, as well as production of gas and organic
fertilizers related to the poultry production process. The group of companies
includes LLC Aluksnes putnu ferma (poultry farming and egg production), LLC APF
Trading (chicken egg wholesale), LLC Oluksne (poultry farming and egg
production services), LLC APF Energy (gas and organic fertilizer production)
and LLC Preilu putni (poultry farming, breeding of young birds). Jurijs
Adamovics is the key shareholder of APF Holdings. 



Disclaimer: This announcement is an unpaid marketing communication under the
Prospectus Regulation and does not constitute investment advice or an offer.
The information contained herein includes announcements regarding the public
offering of shares in JSC APF Holdings. Each investment decision should be made
on the basis of the Prospectus approved by the Bank of Latvia. The approved
Prospectus is available on the website of the Bank of Latvia
(https://bank.lv/). 


     Contacts:
     Jana Garanca
     APF Holdings
     Head of Marketing and Digital Project
     Phone: + 371 26408922
     Email: [e-mail]