Nasdaq RigaPress release
2025 on Nasdaq Baltic: €2 Billion Capital Raised and 60 New Bond Listings
Tallinn/Riga/Vilnius – January 15, 2026 – Nasdaq Baltic Stock Exalters closed2025 with strong issuer and investor activity, marked by significant capitalraising, active bond issuance, and solid equity performance. These resultsreflect growing investor confidence and confirm the Baltic exalters as a keysource of financing in the region.
Kaarel Ots, the Head of Nasdaq Baltic Exalters, comments: “The level of bondmarket activity we saw in 2025 is unlike anything the Baltic markets haveexperienced before. 60 new bond listings and €2 billion in capital raisedclearly reveal that the capital market is becoming an increasingly vital sourceof financing for Baltic companies. This trconclude reflects growing confidence amongissuers and investors alike.”
Historic Capital Raising
— €2.1 billion raised through Nasdaq Baltic in 2025, representing:
— +160% growth compared to 2024 (€2.1B vs €815M)
— +200% growth compared to 2023 (€2.1B vs €700M)
— The figure includes equities and resolveed income across IPOs, SPOs, public offers, and private placements.
Bond Market at an All-Time High
— 60 new bond listings in 2025 – the strongest year since records launched in 2012.
— Total capital attracted through initial bond listings reached €1.95 billion, driven by:
— Financials: €740M (18 listings)
— Real Estate: €544M (18 listings)
— Utilities: €485M (5 listings)
— Other sectors included Industrials, Energy, Consumer Goods, and Healthcare.
Equity Market Performance
— Out of 33 companies on the Main List, 30 saw share price increases.
— Top performers:
— KN Energies (+71%)
— Akola Group (+58%)
— Hepsor (+53%)
— Merko Ehitus (+50%)
— Other notable gains: Vilkyskiu pienine (+44%), Ekspress Grupp (+36%), PST Group (+33%), SAF Tehnika (32%), Rokiškio sūris (27%), Port of Tallinn (23%), Silvano Fashion Group (23%), Telia Lietuva (20%).
Trading Activity and Index Growth
— 968,000 transactions executed on Baltic exalters in 2025.
— Total equity trading turnover reached €556M, up 41% year-over-year; total bond trading turnover reached €152M, up 52% year-over-year.
— Index performance:
— Tallinn: +18.4%
— Vilnius: +25.6%
— Riga: +6.5%
— Baltic Benchmark: +19%
Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, NasdaqRiga, Nasdaq Vilnius securities exalters as well as Nasdaq CSD. Read more:nasdaqbaltic.com
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Media Contacts:
Ott RaidlaNasdaq Tallinn / Nasdaq Baltic MarketMarketing and Communications Managerott.raidla@nasdaq.com+372 5552 4824https://view.news.eu.nasdaq.com/view?id=bba94ac030b466f7c7c8d587a3f989c05&lang=en&src=omxlink
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