Sorainen has advised the Modus Group on entering the Nasdaq Baltic First North alternative market. The total nominal value of the Modus Group issue is EUR 4,999,900, with an annual interest rate of five percent.
The Modus Group’s bond issue was publicly placed by Siauliu Bankas, and came into effect on January 5, 2018. The redemption is set for December 2020.
Modus Group operates in the Baltics, Belarus, Poland, and Spain in such areas as renewable energy, mobility, smart parking solutions, and real estate.
Sorainen is a certified adviser to Modus Group on the First North market in Lithuania — a growth market designed for small and medium-sized companies in the Baltics. The regulatory requirements for First North are less extensive than those of the regulated market, making it 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 they satisfy all First North rules.
The Sorainen team consisted of Partner Augustas Klezys, Senior Associate Dalia Augaite, and Associate Egle Mazetyte.