On 15 February 2018 Sorainen Lithuania became a Certified Adviser on First North, which means that the firm can advise Lithuanian companies pursuing admission to First North.
Nasdaq Baltic First North is a growth market designed for small and medium-sized companies in the Baltics. The regulatory requirements on First North are less extensive compared to the regulated market, so it is easier for young companies to become publicly traded. The certified adviser’s role is to guide growth companies through the application process and to ensure that companies continuously fulfil all the requirements of First North rules.
Comments Sorainen partner Augustas Klezys: “Sorainen has been advising First North market participants in Estonia for over ten years. Our clients’ success stories show that the First North market is a valuable vehicle that allows growing companies to access capital markets and increase their visibility. We also observe an increasing interest in the opportunities offered by the First North market among companies operating in Lithuania. Becoming a certified adviser in Lithuania enables us not only to further contribute to our clients’ success but also to be part of the economic growth of the entire region”.
The first client advised by Sorainen as a Certified Adviser on First North is Modus Group – an international group of companies with operations in the Baltics, Belarus, Poland and Spain, is developing its business in four areas: renewable energy, mobility: car sharing service CityBee, smart parking solutions provider UniPark, real state as well as representing 18 globally acclaimed car brands. Listed on the First North market on 26 February 2018, Modus Group issued bonds of EUR 4,999,900.