Liven's Share Initial Public Offering Has Begun

Starting today, Liven AS has launched its initial public offering of shares and the company is applying for its shares to be admitted to trading on the Nasdaq Tallinn stock exchange main list. The offering is directed at both retail and institutional investors in Estonia, Latvia and Lithuania.

Residential real estate developer Liven AS shares can be subscribed for by both retail and institutional investors from April 23 at 10:00 until May 7 at 15:30. The subscription price per share is 4.68 euros.

As part of the offering, Liven is offering 1,495,730 new shares worth 7 million euros. In addition, existing minority shareholders are offering a total of 369,015 shares worth 1.7 million euros. The basic size of the offering is a total of 8.7 million euros, but in case of oversubscription, Liven may additionally increase the offering volume by up to 854,705 new shares, or up to 4 million euros. Liven's three founders and two largest strategic key shareholders have undertaken a 12-month commitment not to sell their shares.

The results of the offering are planned to be announced on May 11 or around that date. The first trading day for Liven shares on the Nasdaq Tallinn stock exchange main list is expected to be May 15 or around that date.

Liven plans to use the net proceeds from the offering as a first priority for acquiring new properties. As of today, Liven has several negotiations at an advanced stage for purchasing properties in Tallinn and Berlin, and the proceeds from the offering are planned to be used for acquiring those properties. If these properties cannot be acquired, the proceeds from the offering may be used to implement other objectives supporting the company's growth strategy as described in the prospectus.

„Liven has had plans for a share issue since 2019 and we have been working consistently towards that. We believe that Liven's business model, the company's development and stable growth, as well as stock market transparency and reliability complement each other," said Liven CEO Andero Laur.

According to Laur, demand for Liven homes has remained strong even in a challenging economic environment. "Liven has conducted two successful bond issues in recent years, which have helped us implement new projects and continue with previous developments. We see that we have earned investors' trust through our work so far, and at the same time we see favorable opportunities for acquiring new properties, which is also worth raising capital for in today's market," added Andero Laur.

Liven is organizing an English-language web seminar introducing the company and the offering on April 29 at 11:00 and an Estonian-language seminar on April 29 at 17:30 at Liven's Regati pst 3/5 development at Regati pst 5, Tallinn (first floor). Assembly begins at 16:30 and interested parties have the opportunity to participate in a tour of the Regati building. You can join the English-language web seminar at the following link: https://meet.google.com/tpq-wquu-tdc. To participate in the Estonian-language seminar, prior registration is required.

The preparation of Liven AS's share issue is being organized by AS LHV Pank, and according to Maire Gustavson, head of investment banking, Liven has earned the trust of investors and clients by building homes in cooperation with the future owner and taking into account the client's wishes and needs. The initial public offering of shares gives investors the opportunity to be part of Liven's previous success and the company's further development.

„Liven has demonstrated strong capability in developing quality residential real estate projects and has created a strong market reputation through this, based on a clear and transparent business structure. The initial public offering of shares gives investors the opportunity to participate in the company's further development and support the implementation of its growth strategy," said Maire Gustavson.

According to Liven's consolidated unaudited interim report for the first quarter of 2026, Liven has concluded 205 new sales contracts, handed over 147 homes, generated 54.3 million euros in sales revenue and 6.5 million euros in net profit over a 12-month period. In 2025, the company started construction of nearly 300 new residential and commercial spaces. Liven's consolidated audited sales revenue for 2025 was 49.3 million euros and net profit was 5.4 million euros. As of December 31, 2025, Liven's consolidated audited total assets were 86.5 million euros and equity was 23.6 million euros.

Of Liven's development portfolio area, 1% is currently located in Berlin. In total, Liven's development portfolio has approximately 123,000 m² of saleable space and the estimated sales value of the development portfolio is more than 400 million euros.

The financial advisor and organizer of Liven's shares public offering is AS LHV Pank, legal advisor is Ellex Raidla Advokaadibüroo OÜ and communication partner is TUUM Consulting OÜ.

Liven AS was founded in 2014 and is a residential real estate developer primarily operating in Tallinn, which has created over 900 homes. According to Kantar Emor's real estate brand awareness and reputation studies, Liven has been among Estonia's two most reputable developers for years. Since spring 2024, Liven's green bonds have been listed on the Nasdaq stock exchange Baltic bonds list. Since 2019, the group's auditor has been KPMG Baltics OÜ.