Latvian airline airBaltic has taken another significant step towards its anticipated Initial Public Offering (IPO) of shares in a move announced on September 26.
In a press release, airBaltic declared, “Latvian national airline airBaltic announces that it has selected STJ Advisors and Superia as its joint independent financial advisors for the planned initial public offering (IPO) of the company’s shares.”
Financial advisors like STJ Advisors and Superia are typically engaged to oversee and manage the IPO process, including the crucial task of identifying and attracting potential investors.
Martin Gauss, the President and CEO of airBaltic, commented, “Considering the potential path to an IPO and taking into account both the collaborative offering and regional expertise, we are pleased to have chosen STJ Advisors and Superia as our independent IPO advisors. The prospect of listing on the stock exchange marks a significant milestone in airBaltic’s ongoing evolution.”
STJ Advisors, headquartered in London, is an independent international Equity Capital Markets advisory firm with a track record that includes advising on the 2018 privatization of the Port of Tallinn in Estonia. On the other hand, Superia is a Baltic financial advisory services firm with offices located in Rīga, Tallinn, and Vilnius.
airBaltic currently operates a network of more than 100 routes originating from Riga, Tallinn, Vilnius, and Tampere. Established in 1995, the airline’s primary shareholder is the Latvian state, which holds 97.97% of the company’s stock, while the remaining 2.03% is owned by other shareholders.
