Primostar, Estonian Construction Materials Manufacturer with Innovative Industrial Patent, Concludes IPO on Friday

Estonia's first IPO, or initial public offering of shares in more than 1.5 years, is coming to a close – investors have the opportunity to subscribe for AS Primostar Group shares until Friday, May 30 at 3:30 PM. The company produces an innovative patented hydro-insulation solution that offers a more environmentally sustainable and cost-effective alternative to traditional methods.

According to Primostar Group's board member and founder Indrek Uusalu, the company is raising additional capital primarily to bring the product to new foreign markets faster, namely purely for scaling business volumes. "Although Primostar has 25 years of experience in the field, with our new hit product WPM® we are still somewhat like a startup on one hand, but at the same time we have a ready unique product that works, production where it is made, and clients from large construction and development companies from Estonia and neighboring markets who use it and pay for it. On top of that, we also have a patent that opens the door to conquering the world," he explained. According to Uusalu, another reason is that as a listed company, Primostar will find it easier to establish itself on new markets.

Primostar Group has developed and patented innovative technology for hydro-insulation of underground reinforced concrete structures, which has already been used in several major construction projects completed in recent years in both Estonia and neighboring countries. Compared to more traditional methods, the WPM® hydro-insulation solution developed in Estonia and produced here allows reducing CO₂ emissions by up to 95%, shortens the working time required for installation by approximately five times, and is up to 50% cheaper.

Publicly, up to 180,000 shares are being offered at a price of 5.65 euros per share, with Primostar retaining the right to increase the number of shares offered by 22%, totaling up to 220,000 shares. The subscription is open to investors from Estonia, Latvia, and Lithuania, and an investor wishing to submit a subscription order must contact their account custodian, which manages their Nasdaq CSD securities account.

The detailed terms of the offering are available on the company's website at: www.primostar.eu/et/investors-page

Primostar plans to direct the proceeds from the offering towards increasing production, improving product quality, and expanding into new markets. Planned investments include, among other things, certification of production processes and products, partial reconstruction of the production facility, and participation in international trade fairs. The company's expansion plans include the Polish, Finnish, and Swedish markets, in addition to wanting to strengthen its existing position in Latvia and Lithuania.