Today, 31 May, trading started on Nasdaq Tallinn First North in Holm Bank’s bonds

Holm Bank’s unsecured subordinated bond issue volume of 2 million euros was oversubscribed 6.3 times, amounting to 12.6 million euros. A total of 1,899 investors participated in the bond offering. The nominal value of one bond is 1,000 euros, with an annual interest rate of 9.5% that is payable twice a year. The redemption date of the bonds is 30 May 2034. Trading started smoothly and actively on 31 May 2024 and the bond price rose by 6.1% on the first day.

The Management Board of Holm Bank decided to distribute the subordinated bonds to the investors according to the following principles:

all subscription orders made by the same client were aggregated;

investor subscriptions of up to 1,000 euros were fully satisfied;

Holm Bank employees were allocated 100% of their subscribed volume;

the remaining bonds were distributed to the investors in proportion to their subscribed amount, with quantities of bonds with decimal places rounded down or up to the nearest whole number.

Kaspar Kalvet, Chairman of the Management Board of Holm Bank, thanked all the investors who expressed their wish to be part of Holm Bank’s success and submitted a subscription order in the bank’s first public bond offering.

“The subscription results show that investor interest and confidence in Holm Bank is high. Unfortunately, due to the very high interest and oversubscription, this time it was not possible to meet all investors’ subscription requests in full. Investors will have further opportunities to contribute to the success of Holm Bank, both in public and non-public offerings,” Kaspar Kalvet commented.

“Although Holm is currently one of the smallest banks in Estonia, they are also the fastest growing bank. That is why Holm is ideally suited for our First North market, which is specifically designed for smaller but very ambitious companies to raise growth capital,” said Kaarel Ots, Head of Nasdaq Tallinn.

“The raised funds will give an additional boost to Holm’s rapid growth. Holm’s strategy for the next few years will focus on increasing operational volumes in both the Estonian and Latvian markets. To achieve our goals, we are developing new flexible and convenient financial services for our clients, as well as supporting capabilities and workflows. Becoming a public company is a natural, but also an important and significant step on our growth path, and we are delighted that 1,900 investors are now able to share in our success,” said the bank’s CEO.