EWA completes IPO and gets listed on Nasdaq First North

EWA is welcomed by Nasdaq at Times Square, NYC

East West Agro (EWA), one of the largest agricultural machinery sales company in Lithuania, has completed the initial public offering of the company’s shares and became listed on Nasdaq First North, a Nordic-Baltic alternative stock exchange for trading in shares. This is the first IPO in Lithuania after a long time.

The company’s shares have been acquired by 107 investors. The company raised EUR 3 million, and the demand exceeded the supply by 22 per cent.

According to the CEO of EWA Gediminas Kvietkauskas, the company is aiming to become a listed company having liquid shares that would be attractive to investors. “We have successfully taken a very important step towards this objective by offering 125,000 new shares. We are pleased that investors consider our company, its business model and growth plan to be attractive and that they believe in the growth potential of Lithuania’ agricultural sector,” said Mr Kvietkauskas.

The major part of the raised capital will be earmarked for the development in Lithuania – in 2017-2018, new technical maintenance and sales units are planned to be established in the main regions of Lithuania.

Established in 2006, EWA has been a representative of such producers of agricultural machinery as Massey Ferguson, Laverda, Fella and others. The Company’s income for 2016 accounted for EUR 23 million, almost double the amount of 2015.

For more information visit: http://www.vz.lt/rinkos/akcijos-ir-obligacijos/2017/05/22/east-west-agro-oficialiai-zenge-i-birza