We are advising NEO Finance, a company managing the Paskolų klubas peer-to-peer lending platform and providing the NEO Pay payment initiation service, during preparations for a public share offer and for entering the alternative securities market. This is the first time that a Lithuanian fintech startup will be offering its shares publicly and will seek a listing for them on the First North alternative securities market in Lithuania. The initial public offering (IPO) will begin on 15 May.

Shares to be offered in three countries

Shares will be offered simultaneously in Lithuania, Estonia and the Netherlands, where the company recently opened as NEO Finance B.V. for further development in Europe.

For the first time in the Baltics, shares will be distributed using the Dutch auction method, in which investors place a bid for the amount they are willing to buy in terms of quantity and price. The earlier and the higher a bid is offered, the greater the possibility that the bid will be successful. The minimum selling price is EUR 3.14 per share.

Plans to raise funds for expansion

NEO Finance plans to attract EUR 0.5 – 2.5 million in the IPO and intends to use the funds for expanding Paskolų klubas business and payment initiation services in Lithuania. The company aims to become a leader in the payment initiation services market in Lithuania and later to offer its services elsewhere in Europe.

Our services and project team

In addition to advising NEO Finance on preparing its information document and filing an application to admit its shares to trading on the First North alternative market in Lithuania, we are also providing certified advisor services.

The client has been advised by partner Augustas Klezys and senior associate Dalia Augaitė.