Liven Raises Approximately 5 Million Euros in IPO

A total of 2,421 investors participated in Liven AS's public share offering (IPO) that ended on May 7, subscribing for shares worth a total of 4,932,420 euros. Liven's board of directors decided to fulfill all subscription orders with newly issued ordinary shares. The expected first trading day for Liven's shares is May 15.

"We thank all investors who found us worth subscribing to. During the IPO, we saw that Liven's values, development plans and growth potential resonate with people outside the organization as well, and we are working hard to ensure that our clients' high satisfaction translates into investor satisfaction as well. We are pleased to contribute to the development of the Estonian capital market and to provide an opportunity for share investors to benefit from the company's growth and our long-term ambition to become the world's best at creating homes according to customers' wishes," said Liven AS's CEO Andero Laur.

"The subscription result is sufficient to use the investment opportunities available in the market and to achieve our long-term goal of bringing Liven's shares to stock exchange trading. While preparing the offering, we were not naive about the challenging market sentiment, but we decided in favor of organizing the offering because the general direction of the economy is upward, demand for new homes is recovering, and Liven currently has good investment opportunities," said Andero Laur.

"The capital raised will help support the company's further growth and implementation of development plans. Liven has several negotiations in the final stages for purchasing new properties in Tallinn and Berlin, and we plan to use the proceeds from the offering to realize these opportunities. Our existing development portfolio has sufficient work for the coming years, and in 2026 we continue to realistically expect approximately 20% sales revenue growth to approximately 59 million euros, and along with sales revenue growth, we also expect profit growth and exceeding our 20% return on equity target," added Andero Laur.

During the offering, Liven offered up to 1,495,730 newly issued shares worth 7.0 million euros, and Liven's certain minority shareholders offered up to 369,015 existing shares worth up to 1.7 million euros. In the allocation of offering shares, all shares subscribed by each investor participating in the subscription will be distributed to all investors. Liven's board of directors decided to fulfill all subscription orders with newly issued ordinary shares. The offering of minority shareholders offering shares remains entirely unsatisfied.

According to Maire Gustavson, head of investment banking at AS LHV, the offering organizer, the IPO results show that even in uncertain market conditions, companies have the opportunity to raise equity capital through the stock exchange. "At the same time, bonds have remained more popular among investors in recent years, but the choice between stock and bond markets should be based primarily on the needs of the issuer. Thanks to Liven, an Estonian issuer is being added to Nasdaq Tallinn's main list for the first time in several years. The ultimate success of the IPO depends, in addition to meeting the goals set during the IPO process, primarily on the value created for shareholders in the longer term - Liven now has the opportunity to confirm this with their future results," explained Gustavson.

Shares will be credited to investors' securities accounts on May 13 or thereabouts, and Liven's first trading day for shares on Nasdaq Tallinn stock exchange in the Baltic main list is May 15 or thereabouts.

Together with shareholders who joined in previous targeted offerings, Liven now has over 2,500 shareholders, and the share of freely traded shares will be 16%.

Andero Laur also thanked, in addition to the investors who trusted Liven and participated in the offering, the offering organizer AS LHV Bank, the Latvian sales agent Signet Bank AS, legal advisor Ellex Raidla Advokaadibüroo OÜ, and communications partner TUUM Consulting OÜ for their contribution to conducting the offering.