Opin­ion: Madara Cos­met­ics proves that the ex­change is per­fect for smaller com­pa­nies too

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There are many busi­nesses that ex­press in­ter­est for their shares to be quoted at the ex­change, said Nas­daq Riga chair­per­son Daiga Auz­iņa-Me­lalk­sne in an in­ter­view to Latvi­jas Ra­dio, com­ment­ing on the ad­di­tion of Madara Cos­met­ics shares to the First North al­ter­na­tive mar­ket. She pre­dicts that Madara Cos­met­ics, whose shares were added to First North al­ter­na­tive mar­ket on Fri­day, will def­i­nitely see de­mand. «There are busi­nesses that are very ac­tive and are al­ready hard at work re­al­iz­ing their goals. This is why ad­di­tion of new com­pa­nies is very likely,» com­ments Auz­iņa-Me­lalk­sne.

She also notes – while un­til now it was be­lieved that the ex­change is meant for large cor­po­ra­tions, Madara Cos­met­ics proved that it is per­fect for smaller com­pa­nies as well, and there are many small com­pa­nies in Baltic States.

«I have a very pos­i­tive out­look for the fu­ture de­vel­op­ment of the ex­change in the Latvia, Lithua­nia and Es­to­nia, be­cause I see that new com­pa­nies that were built up from zero in the past 10-20 years con­tinue emerg­ing,» says Auz­iņa-Me­lalk­sne.

Shares of Madara Cos­met­ics were in­cluded in Nas­daq Riga’s al­ter­na­tive mar­ket First North. So far, 3,214,800 Madara Cos­met­ics shares with nom­i­nal value of EUR 0.1 have been re­leased on to the al­ter­na­tive mar­ket. First North is an al­ter­na­tive mar­ket man­aged by Nas­daq Group ex­change. The al­ter­na­tive mar­ket does not have EU-reg­u­lated se­cu­ri­ties mar­ket sta­tus. Com­pa­nies in­cluded in First North com­ply with spe­cific re­quire­ments. How­ever, spe­cific reg­u­lated mar­ket re­quire­ments do not ap­ply to them. Re­quire­ments of First North are more le­nient than the Baltic reg­u­lated se­cu­ri­ties mar­ket. Be­cause of that the de­gree of in­vest­ment risk is also higher.

Ieva Čīka/LETA

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