Eleving Group bond issue

About Group

Eleving Group operates in 16 markets and 3 continents, encouraging financial inclusion and upward social mobility in underserved communities around the globe specializing in providing vehicle and consumer financing services.

Eleving Group has developed a multi-brand portfolio for its vehicle and consumer finance business lines, with around 2/3 of the portfolio comprising secured vehicle loans and mobility products, with Mogo as the leading brand, and around 1/3 of the portfolio including unsecured consumer finance products, with Kredo and Tigo as the segment’s flagship brands. Currently, 58% of the group’s portfolio is located in Europe, 30% in Africa, and 12% in the rest of the world. The Group’s historical customer base exceeds 1.3 million customers worldwide, while the total volume of loans issued goes beyond EUR 1.8 billion.

With headquarters in Latvia, Lithuania, and Estonia and a governance structure in Luxembourg, the Group ensures efficient and transparent business management, powered at the operational level by around 2,800 employees. For two consecutive years, the Group was listed among Europe’s 1,000 fastest-growing companies published by the Financial Times in 2020 and 2021. 

The Group has been active in the domestic and international debt capital markets since 2015.

The Group plans to conduct and IPO and list its shares on the Nasdaq Riga Stock Exchange (Baltic Main List) and the Frankfurt Stock Exchange (Prime Standard). Up to EUR 40,000,000 are being offered in the IPO, representing up to 20.9% free float, with an implied market cap of up to EUR 215 million. The IPO of Eleving Group will serve as a base for strengthening its capital base, further expanding to new markets and widening its product spectrum.

Additional information:

https://signetbank.com/wp-content/uploads/2024/09/240924-Eleving-Group-IPO-teaser-EN.pdf

Term Sheet