In the public offering of LAU Infra Grupa AS, investors acquired 3,944,893 shares with a total value of EUR 6.19 million.
A total of 1,981 investors, primarily from Latvia, as well as from Estonia and Lithuania, will become shareholders of the company.
One of the most significant outcomes of the IPO is the participation of the leading Baltic pension funds. Pension funds managed by INVL, SEB, Swedbank, and Luminor participated in the offering. Together, these pension funds account for 74% of the total assets under management in Latvia's second-pillar pension system and 88% of the total assets in the third-pillar pension system. Their participation reflects the confidence of professional investors in the company's future growth prospects.
A total of 1,981 investors participated in the IPO, including 1,966 retail investors and 15 institutional investors. More than half, or 53%, of the allocated shares were allotted to institutional investors, while the remaining 47% were allotted to retail investors.
"We are pleased with the confidence shown by investors and the strong interest in LAU Infra Group shares. The participation of the leading Baltic pension funds is particularly significant, as it demonstrates professional investors' confidence in our business model, financial performance, and long-term growth potential. Latvia's first state-owned company IPO is an important milestone not only for our company but also for the Latvian capital market as a whole," states Vilnis Vitkovskis, Chairman of the Management Board of LAU Infra Group AS.
Following the IPO, the Latvian state will retain 89% of LAU Infra Group's shares and voting rights, ensuring control over a strategically important infrastructure company while broadening the company's shareholder base.
Settlement with investors is expected to take place on June 30, 2026, while trading in LAU Infra Group shares on the Nasdaq Riga Baltic Official List is expected to commence on July 3, 2026.
According to the financial forecasts published in the company's prospectus, LAU Infra Group plans to implement a dividend-based shareholder return policy, which could provide investors participating in the IPO with an average annual dividend yield of approximately 7% in 2026 and 2027.
In recent years, LAU Infra Group has demonstrated steady growth. According to the company's audited financial results, the company's turnover reached EUR 97.1 million in 2025, while profit increased to EUR 7.4 million. The company provides state and municipal road maintenance services, carries out construction and infrastructure projects, produces mineral materials, and participates in the implementation of strategically important national defence projects.
LAU Infra Group's partners in the implementation of the public offering are Luminor Bank, ViaClarus, Eversheds Sutherland Bitāns, and VA Communications Rud Pedersen Latvia.
