Announcement on the results of MADARA Cosmetics, AS public share auction

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| Source: Nasdaq Tallinn

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The subscription period for MADARA Cosmetics, AS shares ended on November 3, 2017. Total demand represented 255% of the offer base of 482,220 shares at a fixed price of EUR 6.25 per share. The over-allotment (greenshoe) option of 48,222 shares will therefore be exercised, bringing the total issue of new shares to 530,442. The results of the auction are summarized in the table:

Company MADARA Cosmetics, AS
Share ISIN code LV0000101624
Auction period  16.10.2017 – 03.11.2017
Settlement date  09.11.2017
First trading day on Nasdaq Riga First North 10.11.2017
Number of shares auctioned 530 442 (480 220 +10% over-allotment)
Number of shares asked 1 228 037
Number of shares sold 530 442
Auction price (EUR) 6.25


The balance went to various institutional and strategic investors.From an allocation perspective, employees of MADARA Cosmetics, AS received full allocation for their demand, while 88% of retail investors (by number) also had their subscriptions fully satisfied. This was achieved by democratically allocating a flat amount of 500 shares (EUR 3 125) for every investor in the retail tranche who submitted orders exceeding 500 shares. In all, the retail offering had more than 700 orders submitted, with allocations constituting around 26% of the offer base.

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